Beneq® Corporation, a leading supplier of Atomic Layer Deposition (ALD) equipment and thin film coating services, and the world’s premier manufacturer of thin film electroluminescent displays, announced on 28 September 28 a share purchase agreement regarding the acquisition of all Beneq Oy shares. The agreement will enable faster expansion in Beneq’s key markets and additional investments in industrial ALD thin film solutions and transparent displays.
The buyer, Qingdao Sifang SRI Intellectual Technology Co. Ltd. (SRI Intellectual), is a Chinese joint venture whose shareholders focus on rail vehicle systems and other high technology solutions.
According to the share purchase agreement, the buyer has acquired all shares of Beneq Corporation (Beneq Oy) from current shareholders. The parties have agreed not to disclose the transaction price.
The new investors are committed to accelerating Beneq’s strategic transformation towards industrial ALD equipment and customized and in-glass laminated transparent Lumineq displays. The agreement will allow expansion of Beneq’s sales and marketing activities, and improvements in production in Beneq’s Espoo factory, the Home of ALD.
“We are very pleased to include Beneq in our investment portfolio. Beneq is exactly the kind of high technology company with growth potential we focus on. The acquisition establishes a bridge between SRI Intellectual and Beneq that will result in a win-win situation of mutual benefits in global business development,” commented Kong Jun, Chairman of SRI Intellectual and Chairman of Beneq.
Beneq will continue as an independent Finnish company under the new ownership, and all existing customer projects, deliveries and agreements with customers, as well as production in Beneq’s Espoo factory will continue according to the current Beneq business plans.
“We are extremely happy to get the support of new owners that have a solid financial background and willingness to invest in the future of Beneq. The background of the investors will also give us access to new customers in interesting business growth areas, such as transparent displays and ALD solutions for the semiconductor industry,” said founder and board member Sampo Ahonen from Beneq.