Beyond I, a subsidiary of Witz, announced in a public disclosure on the 30th that it has decided to acquire Beacon I&C's display business unit to expand its business and strengthen its competitiveness. The transaction is a business acquisition, including all related assets and liabilities, for a purchase price of KRW 1,000. The contract signing date is August 1st.
Beacon I&C is a company with annual sales of approximately 50 billion won. Through its display business division, it manufactures and sells home electronic products, imports and exports parts, and supplies home electronic products to major companies such as LG Electronics.
Through this acquisition, Beyondi will expand its business beyond its existing focus on battlefield cameras into the consumer electronics display sector. Specifically, by leveraging parent company WITS's production base in Vietnam, "WITS VINA," Beyondi plans to relocate its production infrastructure from Korea to Vietnam following the acquisition, thereby reducing costs and improving profitability.
The company believes that as its local production facility in Vietnam has been recognized for its quality competitiveness by global customers, it will be able to increase efficiency in mass production and customer response in the future.
A Beyond Eye representative stated, “Currently, the display business division is experiencing high manufacturing costs, but we expect to improve profitability by actively utilizing the parent company’s production infrastructure.”
A Witz official also explained, “Through this business acquisition, we will be able to fully enter the display market centered on our subsidiary, and our business will be diversified by adding the home appliance sector to our existing electronics and electrical equipment-centered portfolio.” He added, “We expect not only a simple increase in sales, but also improved performance and the creation of business synergies.”
He added, “We plan to stabilize Beyond-i’s display business early and systematize its dedicated production line and operational organization to expand the business beyond small home appliance displays to include battlefield and large displays in the future.”
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