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Samsung's headquarters building in Seocho, Seoul. /Yonhap News Agency

Samsung Electronics is reportedly in talks to acquire Modine Manufacturing Company, a U.S. manufacturer of cooling systems for data centers.

Bloomberg reported on Nov. 13, citing anonymous sources, that the two companies were discussing a potential deal that could be reached within the next few weeks. However, the report said no final decision had been made and the negotiations could still fall through.

Modine currently has a market capitalization of approximately $5.6 billion (about 7.5 trillion won).

Data center cooling solutions are among the businesses Samsung Electronics has identified as future growth areas. Last year, Samsung Electronics acquired FläktGroup, Germany's largest heating, ventilation and air conditioning (HVAC) equipment manufacturer in Europe, for approximately 2 trillion won, and announced plans to invest aggressively in developing its HVAC business into a new growth engine.

If the acquisition goes ahead, Samsung Electronics could rapidly establish a stronger foothold in the U.S. cooling market, building on its expansion into Europe.

                                                                                                              Ahn So-yeon