EQT Partners, a private equity fund (PEF) manager of Sweden's Wallenberg family, will acquire DOUZONE BIZON CO., a domestic enterprise resource planning (ERP) and software solutions company, for 1.3 trillion won.
On the 7th, according to the investment banking (IB) industry, EQT signed a stock purchase agreement (SPA) to acquire the equity of DOUZONE BIZON CO.'s largest shareholder Chair Kim Yong-woo (23.2%) and Shinhan Financial Group affiliates (14.4%) for a total of 1.3 trillion won. After the acquisition, it will secure 37.6% of the voting rights (excluding treasury shares).
DOUZONE BIZON CO. is a provider and developer of enterprise business software solutions founded in 1991. It supports a variety of cloud and software services, including core ERP as well as tax, accounting, compliance, and communication.
EQT's acquisition of DOUZONE BIZON CO. requires related regulatory approvals, including a business combination review by the Fair Trade Commission and permits from the Ministry of Trade, Industry and Energy. The transaction is expected to close after all approvals related to the transfer of management rights are completed.