Hankook Will Acquire a 75% Stake in Digital Company

May 16, 2018

Hankook Tire  Co. Ltd. says it will acquire a 75% equity stake of high-tech digital prototype company Model Solution Ltd. for 68.6 billion won ($63.4 million).

The company says the acquisition is in line with its plans "to strengthen investment in promising technologies and secure new growth engine through M&A of high-tech corporations."

"(Model Solution) possesses the best technical and design skills in the industry to provide top-notch design and prototyping support. Moreover, it is leading the prototype industry by constantly developing high-tech skills such as 3D printing."

There is a lot of synergy between Model Solution and Hankook's M&K Technology affiliate, a "super-size" mold equipment company, adds Hankook.

The 75% share consists of a 51% stake from Laird plc, a United Kingdom-based electronics company, and a 24% stake from Crescendo Equity Partners Ltd., a global private equity firm.

For more information on Hankook and its Hankook Tire America Corp. subsidiary, visit these links:

"Hankook's Sales Fall in First Quarter of 2018."

"Hankook Unveils Kinergy Standard Touring Tire."

"Hankook Is Ready to Play Bal as Official Tire of MLB."

"Hankook Gives $10,000 to Help Tornado Victims."