Samsung Electronics says to acquire U.S. appliances maker Dacor

The logo of Samsung Electronics is seen at its headquarters in Seoul, South Korea, July 4, 2016.

South Korean tech giant Samsung Electronics Co Ltd said on Thursday it will acquire U.S.-based luxury appliances maker Dacor Inc, seeking to boost high-end product sales.

Samsung said in a statement it will keep Dacor’s brand name and leave its operations unchanged following the acquisition. The company did not disclose financial terms. The Korea Economic Daily said Samsung paid $150 million to buy the California-based company.

Researcher Traqline says Samsung was the top home appliances maker in the United States during the second quarter with a 16.7 percent market share, beating out rivals such as LG Electronics Inc and Whirlpool Corp.