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.