Doosan enters the semiconductor space via acqusition
Doosan Corporation announces that it has decide to take over TESNA, a Korean semiconductor testing company, by acquiring all of the TESNA shares (38.7%) held by the company's largest shareholder, AI Tree Limited, for KRW 460 billion (EUR 343 million).
TESNA specialises in testing system semiconductor products such as application processors (AP), camera image sensors (CIS), and wireless communication chips (RF).
As an OSAT company, TESNA has Samsung Electronics and SK Hynix as its main customers in Korea. The company reported sales and operating profit increases of 56.6% and 76.8%, respectively, to KRW 207.5 billion and KRW 54 billion won, respectively last year compared to 2020.
With this acquisition as a starting point, Doosan says in a press release that it plans to foster the semiconductor business as a pillar of its business portfolio along with the existing energy – power generation – and industrial machinery sectors.
Doosan says that through active investments, it will aim to build TSENA into a key system semiconductor company by securing cutting-edge packaging technologies in the mid- to long-term.
Believing that demand for semiconductors will continue to grow in line with the global industry megatrend expanding to AI, AR/VR, big data, 5G, and electric vehicles/autonomous driving, Doosan says it has continuously sought opportunities to enter the semiconductor business.
“The semiconductor sector is expected to continue to grow rapidly across all industries in the future. Doosan intends to grow TESNA into Korea’s leading semiconductor OSAT company through active investment,” the company writes in the press release.