Swedish technology company Mycronic AB has agreed to acquire a majority stake in South Korean firm Cowin DST, which provides systems for repairing display panels and photomasks.
The deal marks Mycronic's second acquisition in as many months, following its purchase of U.S.-based Surfx Technologies in June.
Mycronic will initially acquire a 79% ownership stake in Cowin DST, with an intention to acquire the remaining shares later, the company said.
Cowin DST, which has 65 employees, is projected to have net sales of USD 10 million for 2025.
Mycronic said the acquisition expands its product offering and strengthens its footprint in South Korea, a key hub for the display and semiconductor industries.
"This acquisition opens up new market opportunities in the display and semiconductor industries, while simultaneously strengthening our offering to existing photomask customers," said Charlott Samuelsson, Sr VP Pattern Generators at Mycronic.
"It also enables us to deliver more holistic solutions, enhancing customer efficiency."
The closing is pending regulatory approval and is expected to take two to four months, according to the company.
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