Laird expands further into South Korea
Global electronics firm Laird announced it will acquire 51 per cent of South Korean prototype design company Model solutions.
NanoStrategy AG
n/a
07:46 20/03/24
0.00%
€0.00
Global electronics firm Laird announced it will acquire 51 per cent of South Korean prototype design company Model solutions.
The group will be purchasing the South Korean company from Kamur Private Equity for 70bn won (£40m), in conjunction with South Korean private equity investors, Skylake consortium. When the deal is finalised, Laird will own 51% of Model Solution and Skylake 49%.
The group expects the deal to close within two weeks and for it to be earnings enhancing in the first full year of ownership.
David Lockwood, Chief Executive Officer, said: "This acquisition shows our strategy at work. It allows us to further penetrate the important strategic market that is Korea, demonstrating a broader offering to customers who value the importance of innovative design and speed of delivery."
As of 10:56 the share price had dropped by 0.21% to 288.8p.
WS