Haesung Industrial Co. Ltd. (KOSDAQ:A034810), Keyang Electric Machinery Co., Ltd. (KOSE:A012200) and employees of Micro Device Solution business agreed to acquire Micro Device Solution business of Samsung Techwin Co. Ltd. (KOSE:A012450) for KRW 150 billion on April 9, 2014.

All of the business' assets and liabilities will be transferred to the buyers under the deal. Haesung Industrial Co. and Keyang Electric Machinery will acquire a combined 60% stake in Micro Device Solution business while the rest will be owned by the business' employees.

The transaction has been resolved by Board of Directors of Samsung Techwin Co. Ltd. and is expected to be closed by April 30, 2014. Samsung Techwin Co.

plans to spend the cash proceeds on strengthening the competitiveness of its equipment business. KPMG acted as financial advisor to Samsung Techwin.