Doosan Group acquires controlling stake in semiconductor test service provider

Lim Chang-won Reporter() | Posted : March 8, 2022, 18:02 | Updated : March 8, 2022, 18:02

[Gettyimages Bank]

SEOUL -- South Korea's Doosan Group expanded its business scope into semiconductors by acquiring a controlling 38.7 percent stake in Tesna, a domestic semiconductor test service provider, saying that demands for semiconductors will grow in line with the rapid introduction of advanced technologies such as artificial intelligence, big data, electric vehicles and autonomous driving.

The acquisition of Tesna for 460 billion won ($372.6 million) is aimed at securing a new growth engine, the group's corporate holding company, Doosan Corporation, said, adding that a stock purchase agreement was signed with a private equity firm which is Tesna's largest shareholder.

Tesna is South Korea's top wafer test company and provides test services for various semiconductors used in mobile devices, automobiles, appliances, industry, security, and other sectors. Tesna's main customers are South Korea's two major semiconductor companies, Samsung Electronics and SK Hynix, which have expanded investments in their foundry businesses.  
  
Doosan revealed its clear goal to foster the semiconductor business as an axis of its business portfolio along with energy and industrial machinery. "The semiconductor sector will continue to grow rapidly across all future industries," an unnamed Doosan official said in a statement on March 8. 

Through active investment, the group aims to nurture Tesna as a key system semiconductor company. The system semiconductor industry consists of Fabless companies with only design and development functions, foundry companies dedicated to manufacturing under consignment, and outsourced semiconductor assembly and test (OSAT) companies that assemble, test and package processed wafers.
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