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 has purchased the German ventilation company, FlaktGroup Holding, for $1.68 billion. The South Korean technology giant made the announcement this week, saying the deal will help expand its business in the global air solutions market.