STIC buys stake in Korean telecom equipment maker

Consumer electronics player Humax said in a filing that it had agreed to buy a 70.5% interest in Winnercom for KRW42 billion ($38.5 million). Prior to finalizing this deal, it reached an arrangement with STIC for the latter to come in as a minority investor. STIC will contribute KRW15 billion.

Winnercom generated KRW124.9 billion in revenue in 2016, up from KRW103 billion the previous year. Net income rose from KRW4.46 billion to KRW6.79 billion over the same period.

Humax produces set-top boxes, broadband gateways, and related equipment. It supplies broadcasters and telecom operators in more than 80 countries through 20 overseas subsidiaries. The company reported KRW1.35 trillion in revenue last year and KRW3.25 in net income.

STIC was founded in 1999 and has more than $4.2 billion in assets under management. The firm has four core strategies: private equity, venture capital, special situations and M&A. Its private equity approach involves making minority growth investments in proven mid-cap companies that require capital for expansion, recapitalization or acquisitions.

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• Topics
• North Asia
• Expansion
• Industrials
• South Korea
• STIC Investments
• Growth capital
• manufacturing