Hansongneotech Co.,Ltd. completed the acquisition of 42% stake in Shinhwa IT Co., Ltd. from Alpha Holdings, Inc..
August 23, 2023
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Hansongneotech Co.,Ltd. (KOSDAQ:A226440) agreed to acquire 42% stake in Shinhwa IT Co., Ltd. from Alpha Holdings, Inc. (KOSDAQ:A117670) for KRW 6 billion on August 10, 2023. As of December 31, 2023, Shinhwa IT Co., Ltd reported total assets of KRW 12 billion, sales of 3.6 billion and net income of KRW -3,9 million. The deal has been approved by board of directors of Hansongneotech Co.,Ltd., and is expected to be completed on November 29, 2023.
Hansongneotech Co.,Ltd. (KOSDAQ:A226440) completed the acquisition of 42% stake in Shinhwa IT Co., Ltd. from Alpha Holdings, Inc. (KOSDAQ:A117670) on August 24, 2023.
Alpha Holdings, Inc., formerly Alphachips Corp., is a Korea-based company engaged in the manufacture of system semiconductors. The Companyâs product portfolio consists of security integrated circuits (ICs), including security camera ICs and encryption ICs; mobile multimedia ICs, including multimedia ICs and camera signal processor ICs; mobile communication ICs, including digital multimedia broadcasting (DMB) ICs and wireless ICs; display ICs, including timing controller ICs, and other ICs, such as printer processor ICs. It also provides system on chip (SoC) design and development services.
ALPHA HOLDINGS, INC. 
