이 기사는 2022년 04월 05일 08:05 thebell 에 표출된 기사입니다.

South Korea’s Hankook & Company announced a new business plan to become a technology firm by striking a deal to acquire a stake in Canada-based Preciseley Microtechnology Corp (PMC), which develops optic micro-electromechanical system (MEMS) solutions.

Preciseley Microtechnology president and CEO David Somo said in an interview on Thursday with the bell that he is excited about the future collaborations with Hankook & Co.

“Although Hankook & Company is putting the investment into PMC, it was also very important for Preciseley to understand the investor of our company,” said Somo. “It ensured that they are in support of our strategic vision for the company and to build a leader in MEMS technology for the market. Through the process of getting to know each other, we were able to confirm strong mutual agreement in how we should proceed in rolling the business together.”

The latest transaction started with Hankook Tire & Technology choosing MEMS as its new growth engine, seeking various mergers and acquisitions (M&A) opportunities in the field.

Preciseley is a global leader in optic MEMS solutions for optical communications systems, automotive and 3D sensing applications. It offers innovative MEMS solutions that help design engineers solve complex problems for 5G telecommunications infrastructure, data center networks, automotive light detection and ranging (LiDAR) and laser lighting systems, industrial LiDAR and machine vision systems, AR/VR and biometrics. The Canadian company plans to mass produce automotive LiDAR system incorporating MEMS by 2024.

“Autonomous driving requires LiDAR technology and Preciseley owns the technology to make optical lenses that go into it,” said Preciseley chief technology officer Tiansheng Zhou.

“Hankook & Company produces tires that use multiple sensors, such as smart tires, and we will be able to carry out diverse collaborations by putting our technologies together.”

Market insiders are paying attention whether the latest deal will be a win-win for both Hankook & Co and Preciseley. The deal will help the Korean company to acquire technologies used in autonomous vehicles and commercialize LiDAR.

With the new largest shareholder, Preciseley will be able to utilize know-hows and networks that have been accumulated for more than 70 years by the country’s largest tire manufacturer. The transaction will also enable the Canadian firm to improve its investment, distribution and financial stability.

Preciseley expected the global optical communications market to grow at a CAGR of over 14% until 2026.

“The build out of 5G wireless communications infrastructure requires wired telecommunications equipment for connecting wireless systems. The 5G deployment is early and this trend will continue high growth for many years to come,” said Somo. “The pandemic has actually accelerated the demand for data centers to support e-commerce, remote work, remote educations, remote entertainment and streaming.”

“There are strong potential synergies between the two companies. Becoming a partner of Hankook provides the resources, support, industry knowledge and expertise that can help us achieve our strategic vision for the company,” said Somo. (Reporting by Seo-young Kim)