Wits Co., Ltd. cancelled the acquisition of Samsung Electro-Mechanics Thailand Co., Ltd from Samsung Electro-Mechanics Co., Ltd. and others.
May 27, 2021
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Wits Co., Ltd. agreed to acquire Samsung Electro-Mechanics Thailand Co., Ltd from Samsung Electro-Mechanics Co., Ltd. (KOSE:A009150) and others for KRW 91.5 billion on January 27, 2021. The transaction is expected to close on April 30, 2021. As of April 27, 2021, the transaction is expected to be completed on May 31, 2021.
Wits Co., Ltd. cancelled the acquisition of Samsung Electro-Mechanics Thailand Co., Ltd from Samsung Electro-Mechanics Co., Ltd. (KOSE:A009150) and others on May 28, 2021. The deal was cancelled as there is a high possibility of deteriorating profitability due to the rapid change in the WiFi module market in the future. This was judged to be a significant change, indicating that the business uncertainty of the future acquisition business clearly increased, unlike the forecast that the WiFi module business will continue to grow at the time of the signing of the transfer agreement.
Samsung Electro-Mechanics Co Ltd is a Korea-based company mainly engaged in the manufacture and distribution of electronic components. The Company operates its business through three segments. The Component Solution segment is involved in the production and sale of passive elements such as multi layers ceramic capacitors (MLCC), inductors, chip resistors. The Module Solution segment is involved in the production and sale of module products, including camera modules and communication modules. The Board Solution segment is involved in the production and sale of semiconductor package substrates and high-density multilayer boards. The Company distributes its products in domestic and overseas markets such as America, Europe and Southeast Asian countries, China and Japan.
SAMSUNG ELECTRO-MECHANICS CO., LTD. 
