South Korea's Samsung Electronics in its task of expanding its business acquired a Brazilian printing firm, Simpress. The acquisition comes as Samsung searches for ways to stabilize earnings. The maker of Galaxy smartphones reported its first annual profit decline in three years as contributions from its erstwhile cash cow mobile division fell sharply. Samsung Electronics is keen on acquiring new startups to bolster its business among its clients and to compete with its rivals, Apple and Sony. Samsung in November acquired US based server-side caching software company Proximal Data. The Korean firm also acquired US-based Quietside, distributor of heating, ventilation and air conditioning products, and Canadian mobile printing solutions company PrinterOn. The cost of the acquisition and the details of the takeover is still unknown and will be released by the company in the coming days.But according to the initial reports the acquisition could be less than $100 million. The acquisition of Simpress will increase Samsung's business in the Latin America and will increase their B2B services.