[Click eStock] Classys Expects Synergy from Acquiring Shares of Iruda... Target Price '↑'

Daol Investment & Securities analyzed on the 5th that the acquisition of Classys' stake in Iruda is expected to create synergy through cooperation. The investment opinion 'Buy' was maintained, and the target price was raised to 46,000 KRW.

Classys acquired an 18% stake in Iruda for 40.5 billion KRW. The acquisition price was 11,000 KRW per share. The acquisition contract also included a call option to purchase additional shares. If the call option is exercised, Classys can increase its stake in Iruda to 36%.

Jonghyun Park, a researcher at Daol Investment & Securities, said, "Through this acquisition, Classys and Iruda have expanded their portfolios of beauty medical device products," adding, "Classys' main products are HIFU and non-invasive RF, while Iruda's main products are Needle RF and Laser products, so each company's core energy sources differ."

He explained, "Iruda generates sales in North America through its partner Cutera, so additional partnership options are expected for Classys' future entry into the North American market," and added, "Since each company's main products and primary sales regions differ, synergy from cooperation is anticipated."

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