Unichem is experiencing a surge in its stock price following the announcement of its acquisition of U.S. flexible electronics company Lumia Technologies.
According to the Korea Exchange, as of 10:13 a.m. on August 6, Unichem's shares rose by 1,050 won (30.00%) to 4,550 won compared to the previous trading day.
Unichem disclosed that it has decided to acquire 100% of Lumia, a deep-tech company based in Brooklyn, New York, for 8.574 billion won, which represents 6.48% of its equity capital. The acquisition will be financed through a combination of cash, treasury shares, and performance-based convertible bonds.
Lumia possesses core technology for ultra-thin electronic circuits that can be embedded within leather or fabric. Unichem plans to combine its processing technology for natural leather and industrial materials with Lumia's flexible electronics technology to expand its business into smart automotive interiors, tactile sensors for humanoid robots, and electronic skin.
Lumia is also a member of the HAND ERC consortium, which includes industry players like Meta and Amazon Robotics, focusing on robotic tactile sensing. Following the acquisition, Unichem intends to develop large-area electronic skin that envelops robotic hands and grippers.
Unichem stated, "In the future, we will expand the application of Lumia's flexible heating and sensing technology to medical heating devices, rehabilitation equipment, wearable devices, and AI data center thermal management, transitioning from a traditional automotive interior manufacturer to a smart materials platform company for future mobility and humanoid robots."
* This article has been translated by AI.
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