South Korea’s leading mobile carrier SK Telecom is on track to acquire the factory automation technology firm Toptec to seek synergy with its telecom and semiconductor businesses, according to the industry Tuesday.
Despite a denial by Toptec in its regulatory filing early Tuesday, an official at SK Holdings -- the de facto control tower of new investment and business projects of all SK affiliates -- told The Korea Herald that the telecom firm is close to making a final decision on the acquisition.
“The deal is in the last stage of decision making with an internal deadline by today,” said the official on the condition of anonymity.
According to local media reports, SK Telecom is expected to sign a memorandum of understanding with the Gumi-headquartered company on the acquisition by the end of this week.
(Yonhap)
However, some officials at SK Group and SK Holdings denied the rumors, saying “The group and holdings firm are not allowed to step into the telecom unit’s investment, which is a totally different entity.”
SK Telecom revealed in a regulatory filing later in the day that “the company is considering to acquire some stake in Toptec but nothing has been confirmed yet.”
Due to high expectations over the acquisition deal, Toptec’s shares rose 9.22 percent to 34,950 won on Tuesday from the previous session.
According to the market, SK Telecom, parent company of the world’s second-largest chipmaker SK hynix, is planning to apply Toptec’s factory automation technologies to the subsidiary’s display and semiconductor fabrication lines.
The telecom unit is also seeking to own such a smart factory solution business as a new growth engine, along with commercialization of the fifth-generation telecom network.
By Song Su-hyun (
song@heraldcorp.com)
