HYSONIC Co., Ltd. completed the acquisition of SUZHOU INNOWAVE CO.,LTD. from Innowave Inc.
December 21, 2023
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HYSONIC Co., Ltd. (KOSDAQ:A106080) agreed to acquire SUZHOU INNOWAVE CO.,LTD. from Innowave Inc. for KRW 4.5 billion on September 25, 2023. As of December 31, 2023, generated total assets of KRW 17.7 billion, revenue of KRW 16.6 billion and net loss of KRW 663 million. The transaction is funded from issuance of retained funds and convertible bonds. The transaction is expected to complete on December 15, 2023. As of December 15, 2023, HYSONIC announced the transaction is expected to complete on December 29, 2023.
HYSONIC Co., Ltd. (KOSDAQ:A106080) completed the acquisition of SUZHOU INNOWAVE CO.,LTD. from Innowave Inc. on December 22, 2023.
HYSONIC Co., Ltd., formerly G2HYSONIC Co., Ltd., is a Korea-based company principally engaged in the manufacturing of auto focus (AF) actuators. The Company mainly manufactures precision micro miniature electro mechanical actuator products including AF actuators, optical image stabilizer actuators and smooth picture actuators for mobile handset camera application and optical application. The Company's customers include HUAWEI, Liteon, LG Innotek, CammSys Corp and others. It distributes its products within domestic market and to overseas markets.
HYSONIC CO., LTD. 