Wits

Chemtronics announced that its subsidiary Wits signed a contract to acquire Samsung Electro-Mechanics' Wi-Fi communication module business for 105.5 billion won. Wits will invest 91.5 billion won in Samsung Electro-Mechanics' Thailand subsidiary, acquiring 100% equity.

Samsung Electro-Mechanics is selling its Wi-Fi communication module business to Chemtronics for 105.5 billion KRW. Chemtronics' subsidiary Wits will acquire the business, including a Thailand subsidiary, with the acquisition expected to close on April 30, 2021.

Chemtronics' newly established subsidiary Wits signed an asset transfer agreement to acquire Samsung Electro-Mechanics' mobile wireless power transfer and NFC chip coil business for KRW 21 billion, paid in five installments over two years.