Douzone Bizon headquarters. (EQT)
Douzone Bizon headquarters. (EQT)

Sweden's EQT is set to acquire a controlling stake in South Korean enterprise software provider Douzone Bizon for about $930 million, the asset manager said Friday.

EQT revealed it signed a share purchase agreement to invest approximately $930 million in the Kospi-listed company, securing a 37.6 percent stake and controlling interest.

Under the deal, EQT will acquire the entire 23.2 percent stake held by Douzone Bizon Chair Kim Young-woo and a 14.4 percent stake owned by Shinhan Financial Group affiliates.

The transaction is subject to customary regulatory approvals, including merger clearance from the Korea Fair Trade Commission and licensing authorization from the Ministry of Trade, Industry and Resources.

Founded in 1991, Douzone Bizon supplies software solutions for small and medium-sized enterprises, spanning ERP, tax, accounting, compliance and communication services. The company generates annual sales of about 400 billion won ($275 million) and maintains an operating margin of around 20 percent, ranking second only to Germany's SAP in domestic market share.

EQT said the acquisition underscores its commitment to leveraging global expertise in digital transformation and enterprise solutions to enhance Douzone Bizon's long-term growth. The firm plans to prioritize reinvestment and business strengthening in early stages rather than short-term profitability.

Earlier this year, the Swedish investor acquired networking and recruitment platform Remember & Company for 500 billion won ($343 million). With Remember's database of more than 500 million business cards and 5 million users, industry observers expect EQT to explore potential synergies between the two portfolio firms in enterprise data and human resources solutions.


jwc@heraldcorp.com