KKR acquires approximately US$820 million worth of Samsung's SamsungSDS convertible bonds

Investment firm KKR announced a final agreement with Samsung's blockchain and IT financial services provider SamsungSDS to acquire the latter's newly issued convertible bonds worth 1.22 trillion won (approximately US$820 million). SamsungSDS launched digital transformation experience services in 2020, including a blockchain platform, and co-developed certificate services driven by blockchain technology with Shinhan Bank. In addition, it also serves as a technical consultant for the CBDC pilot project led by the Bank of Korea. It is reported that KKR will provide consulting services on mergers and acquisitions, capital allocation, artificial intelligence products and global expansion, as well as accelerating the construction of artificial intelligence infrastructure.