An international joint venture acquires the company shares
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, today announced a share purchase agreement about 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 acquires all shares of Beneq Corporation (Beneq Oy) from current shareholders. The parties have agreed not to disclose the transaction price.
Accelerating the execution of Beneq’s strategy
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.
No changes in Beneq’s operations or customer projects
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.
About Beneq
Beneq® is the Home of ALD. Our Atomic Layer Deposition solutions improve the performance and durability of electronics and optics. They are the invisible advantage in leading semiconductor, IoT, 5G and automotive applications.
Beneq’s Lumineq® displays are the most transparent displays in the world. Rugged Lumineq displays tolerate extreme conditions better than any other display type.
Beneq was founded in 2005. The Beneq factory in Espoo, Finland, which Beneq acquired in 2012, is where atomic layer deposition was applied in industrial production for the first time in 1984. Today, it is the largest ALD-dedicated production facility in the world.
In May, the biennial one-million-euro Millennium Technology Prize was awarded to the Atomic Layer Deposition (ALD) technology and its inventor Dr. Tuomo Suntola. The prize-winning ALD innovation is a nanoscale technology in use all over the world. Atomic Layer Deposition is used for manufacturing ultra-thin material layers. The technology allows building of complex, three-dimensional structures one atomic layer at a time.
Beneq corporation turnover in 2017 was 21,3 million euros, and 97% of the company turnover came from outside Finland. Europe was the biggest market in 2017 with a 40% share, followed by the Asia and Americas with 34% and 24% shares respectively. Rest of the world formed 2% of the revenues. In the end of August 2018, Beneq employed 146 people.
More information:
Sampo Ahonen, Founder and Board Member, sampo.ahonen@beneq.com
Jukka Nieminen, President, jukka.nieminen@beneq.com
Tel. +358 9 7599 530