Reported acquisition talks
Samsung Electronics is in talks to acquire Modine Manufacturing, a US manufacturer of cooling systems for data centers, Bloomberg reported on November 13, local time.
According to Bloomberg, the companies are discussing a potential acquisition with the aim of reaching an agreement within weeks at the earliest. No final decision has been made, and the talks could collapse or another potential buyer could emerge.
A Samsung Electronics representative responded briefly: "We cannot confirm this."
Modine's business and market reaction
Modine is headquartered in Wisconsin in the United States. It manufactures high-performance heating and cooling systems for large commercial buildings and industrial machinery. Its supply business serving hyperscalers, or large cloud companies building data centers, has grown rapidly in recent years. In October 2026, the company spun off its automotive business to focus on thermal management.
Modine shares surged 29% in after-hours trading after news of the acquisition talks, rising above USD 136. Its market capitalization increased from USD 5.64 billion, approximately KRW 7.5 trillion, to USD 7.28 billion, approximately KRW 9.7 trillion.
The recent AI market boom has spurred mergers and acquisitions in cooling and thermal management for data centers. Samsung Electronics expanded its data center thermal management capabilities by acquiring Germany's FläktGroup in 2025 for EUR 1.5 billion, approximately KRW 2.2 trillion.
Original Korean article: ZDNet Korea
English brief by Korea Wind Intelligence, koreawindintel.com
