Samsung Electronics has agreed to buy Germany’s FlaktGroup in what would be the South Korean company’s biggest acquisition in eight years.

Samsung Electronics said on Wednesday it had agreed to buy Germany's FlaktGroup for 1.5 billion euros ($1.68 billion) as it looks to meet growing demand for cooling of data centres used for artificial intelligence projects.

Samsung says 'with global applied HVAC market experiencing rapid growth, the acquisition reinforces Samsung’s commitment to expanding and strengthening' its heating, ventilation and air conditioning b