Hansol Technics, an electrical and electronic components company under Hansol Group, announced Wednesday that it will acquire Will Technology for a total of 177 billion won ($124 million).
The company disclosed that it will purchase 6.11 million shares of Will Technology for 177.2 billion won. Upon completion of the transaction, Hansol Technics will hold an 83.37% stake in the company.
To fund the acquisition, Hansol Technics will conduct a 90 billion won rights offering. The entire proceeds from this capital increase will be used for the Will Technology acquisition.
Will Technology is a semiconductor probe card manufacturer with the top competitive position in Korea in its field, maintaining stable growth through its unrivaled technology and market position. Probe cards are components used to test the operational performance of semiconductor chips.
Through this acquisition, Hansol Technics aims to secure a solid foundation and competitiveness in the semiconductor business sector while strengthening execution capabilities for its long-term growth vision.
Hansol Holdings, the group's holding company, will participate in the rights offering and is expected to subscribe to new shares worth up to approximately 61.7 billion won.
"This investment is a decision to expand our business portfolio into the semiconductor sector, which has high future growth potential, while maintaining stable existing operations," Hansol Technics said.
"By actively participating in the rights offering, Hansol Holdings sought to minimize the burden on shareholders while eliminating uncertainty regarding the subsidiary's fundraising," the company added.
