] South Korea’s Kanglim
have signed an agreement to acquire optical filter manufacturer Nanos in a deal worth 47 billion won (US$41.46 million), in a bid to expand into the IT sector, the companies said on Oct. 18.
A consortium formed by construction equipment maker Kanglim and underwear company SBW bought a 65 percent stake, or 94 million shares, in Nanos, which has been under court receivership since April this year.
Kanglim will become the largest shareholder of the IT firm by acquiring a 49 percent stake. SBW purchased a 16.3 percent stake in the company.
“Kanglim and SBW have decided to acquire Nanos to diversify their business portfolio and pursue new value creation in the era of sharing economy,” a SBW official said.
Nanos, the country’s No. 2 optical filter manufacture, produces camera modules for mobile phone and sensors for home electronics. It is one of two companies that hold skills to make hall sensors in the world along with Japan’s Asahi Kasei.
With such technology, the two buyers expect that Nanos will normalize its business soon after facing a major setback when it reported 20.7 billion won net loss in 2015.
“If Samsung Electronics decides to sport a dual camera in its upcoming smartphones, Nanos is expected to benefit from increasing sales of optical filter and hall sensor,” Kanglim said.
The buyers plan to submit a rehabilitation scheme to a court in Suwon overseeing the receivership of Nanos soon to compete the acquisition process swiftly.
By Park Han-na (firstname.lastname@example.org