# SMEC signs MOU to acquire Hyundai Wia's machine tool division for 340 billion won

SMEC Co., Ltd announced on October 10, 2024, that it has signed a Memorandum of Understanding with a consortium including Rylson Private Equity to acquire Hyundai Wia's Machine Tool Division for approximately 340 billion won.

- Type: Acquisition
- Announced: 2024-10-10
- Where: South Korea
- Value: $252.0M (340.0B KRW)
- Status: announced
- Products: machine tools
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [SMEC](https://endata.com/companies/16872.md) (acquirer)
- [Hyundai Wia](https://endata.com/companies/18020.md) (target)
- [Rylson Private Equity](https://endata.com/companies/80353.md) (acquirer)

## Sources

- [prnewswire.com](https://www.prnewswire.com/news-releases/smec-signed-mou-for-acquisition-of-hyundai-wias-machine-tool-division-302272883.html), 2024-10-10: "SMEC expects to solidify its position as one of the top two companies in the machine tool market."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.