SurplusGLOBAL to Acquire EQ Bestech

SurplusGLOBAL to Acquire EQ Bestech

Wednesday, Sep 06, 2017

SurplusGLOBAL, Inc. will acquire 60,665 shares of EQ Bestech for KRW 2.9 billion and will acquire new 60,000 shares for KRW 2.5 billion through paid-in capital increase.

SurplusGLOBAL [140070], a KOSDAQ listed used semiconductor company, announced on September 1 that it has decided to acquire 120,665 shares of EQ Bestech (a 67.04% stake) for KRW 5.4 billion.

Founded in 2001, EQ Bestech specializes not only in repair services for PCB/test boards, ATE, RF products of semiconductor/display equipment but also in development and production of RF products, based on 16 years of accumulated experiences and technologies. 

SurplusGLOBAL has made the decision in order to diversify its business and start a new business through the corporate takeover. With the global network of 20,000 customers worldwide, SurplusGLOBAL’s goal is to make EQ Bestech become the world No. 1 semiconductor parts repair and manufacturing company.

Jong-hyun Nam is currently the CEO of EQ Bestech, and Kwang-Hah Seo, vice president of Dongbu Hi-Tech, will be appointed as the co-CEO.

Regarding the acquisition decision, Kwang-ha Seo said, "EQ Bestech will experience exceptional growth with the investment made by SurplusGLOBAL and it will provide a higher level of repair services to semiconductor fabs and equipment manufacturers around the world. We, EQ Bestech, will also make a big contribution to the semiconductor ecosystem by expanding our business into the area of RF module and equipment. "