South Korea's Samsung buys Israeli image sensor developer

South Korea's Samsung Electronics Co. said Wednesday it has purchased an Israeli developer of image sensors, its first acquisition in a decade.

Samsung purchased TransChip Israel Ltd. and turned it into one of its research and development centers, said Samsung spokeswoman Lee Eun-hee.

The Korea Economic Daily newspaper reported Wednesday that Samsung paid US$70 million (EUR48.5 million) for TransChip. Lee said she could not disclose the purchase price.

Lee said the purchase was made "to enhance our competitiveness" in CMOS image sensors, which are incorporated into semiconductors used in mobile phones and digital cameras.

Lee could not immediately say where in Israel the company was based, whether it was privately or publicly held or when the purchase took place. She said it was Samsung's first acquisition since 1997, but could not immediately provide details about the previous purchase.

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Author`s name Angela Antonova