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| [December 27, 2012] |
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Samsung Continues to Expand Operations in the Bay Area
SAN JOSE, Calif. --(Business Wire)--
Samsung (News - Alert) Electronics Co., Ltd, a global leader in digital media, digital
convergence technologies and advanced semiconductor solutions, continues
to expand its operations in Silicon Valley by investing more resources
in its existing R&D centers and establishing new innovation centers.
Samsung Semiconductor, Inc. (SSI) announced plans to build a 1.1 million
square foot sales and R&D headquarters on the current site of its
semiconductor and display panel businesses, north of downtown San Jose.
The building, designed by global architecture firm NBBJ, will be
comprised of a 10-story tower, an amenity pavilion and parking garage.
The design seeks to encourage interaction among staff, foster
connections with the community and provide a space to attract employment
in the highly competitive tech market, which is growing at a faster pace
than overall employment.
Samsung Information Systems America Inc. (SISA), will relocate its R&D
Center from its current facility in North San Jose to an 8.5-acre site
and expand to two new 6-story class-A office buildings totaling
approximately 385,000 square foot. (each 192,500 sq. ft.) with two 5-6
story parking structures.The new facility will be oriented around a
central plaza with views overlooking the adjacent Sunnyvale golf course
and will be constructed to LEED Gold standards. The 15-year
build-to-suit lease will be located at Cypress Business Park, 625-685
Clyde Avenue in Mountain View, California. Entitlements are in process
and anticipated for completion in second quarter of 2013, with targeted
occupancy in fourth quarter of 2014.
In addition to these two major planned campuses, Samsung Electronics is
expanding its Open Innovation efforts with additional space that will
allow for incubating and acquiring new technologies and working with
early stage companies.
Samsung Strategy & Innovation Center, located in Menlo Park, a core area
in Silicon Valley, was recently established to strengthen Samsung's
ecosystem and promote synergy between the company's various products and
services. Samsung Open Innovation Center, located in Palo Alto (News - Alert), will be
a core entity to discover innovative startups in Silicon Valley, provide
space, funds and effectively leverage them for innovation of Samsung's
products through equity investments, acquisition and strategic
partnership.
Following the establishment of both the Samsung Strategy & Innovation
Center and the Open Innovation Center in Silicon Valley, Samsung
Electronics plans to set up corresponding organizations at R&D Centers
and the Samsung Advanced Institute of Technology at its Korean
headquarters to strengthen its global cooperative network.
About Samsung Electronics Co., Ltd.
Samsung Electronics Co., Ltd. is a global leader in consumer electronics
and components. Through relentless innovation and discovery, we are
transforming the worlds of televisions, smartphones, personal computers,
printers, cameras, home appliances, medical devices, semiconductors and
LED solutions. We employ 227,000 people across 75 countries with annual
sales exceeding US$143 billion. Our goal is opening new possibilities
for people everywhere. To discover more, please visit www.samsung.com.
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