KKR acquires $820 million in convertible bonds from Samsung SDS.

According to Huoxun Finance, investment firm KKR announced a definitive agreement to acquire Samsung SDS, a blockchain and IT financial services provider under Samsung, for 1.22 trillion won (approximately US$820 million) in newly issued convertible bonds. Samsung SDS launched its digital transformation experience service in 2020, which includes a blockchain platform, and is collaborating with Shinhan Bank to develop blockchain-driven certificate services. It also serves as a technical advisor for the Bank of Korea's CBDC pilot project. KKR will reportedly provide consulting services on mergers and acquisitions, capital allocation, artificial intelligence products, and global expansion, while also accelerating the development of its AI infrastructure.