Hanwha Solutions and Samsung Electro-Mechanics Consider Acquisition of Wi-Fi Module Business

"Received Acquisition Proposal from Samsung Electro-Mechanics' Sale Advisor"
Hanwha Solutions Reviewing Synergy Potential with Advanced Materials Business

[Asia Economy Reporter Hwang Yoon-joo] Hanwha Solutions is considering acquiring Samsung Electro-Mechanics' Wi-Fi module business.

Hanwha Group stated on the 25th, "We have received an acquisition proposal from the sales agent managing the sale of Samsung Electro-Mechanics' Wi-Fi module business," and "Hanwha Solutions is reviewing whether to proceed with the acquisition."

Samsung Electro-Mechanics is currently restructuring its non-core businesses. As part of this, it planned to sell the Wi-Fi module business to a domestic mid-sized company in January this year, but the deal fell through, and the company is now pursuing the sale again.

Hanwha Solutions is reportedly reviewing the acquisition considering synergies with its Advanced Materials division. This division operates an electronic materials business that produces high-performance films for mobile and display applications.

Earlier, in April this year, Hanwha Solutions recruited President Hwang Jung-wook, formerly of Samsung Electronics' Wireless Business Division Development Office. President Hwang is in charge of new businesses within the Future Strategy Business Unit of the Advanced Materials division.

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