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Ace Equity Partners to acquire stake in Tesna

Seoul, South Korea-based private equity firm Ace Equity Partners LLC agreed to buy a stake in semiconductor testing service provider Tesna Inc. for roughly 152.7 billion won, DealStreetAsia reported, citing a disclosure to the Korea Stock Exchange.

The firm will acquire 2.1 million shares from existing shareholders or about 29.99% of Tesna's total shares for 50,000 won apiece for a total of 103 billion won. The buyer also agreed to subscribe to 1.16 million newly issued shares valued at 43,091 won per share.

Once completed, Ace Equity Partners will become Tesna's largest shareholder.

Tesna's services include test program development, wafer probe test, package final test, back-end service and turnkey service.

Founded in 2017, Ace Equity Partners specializes in middle market buyouts.

As of Oct. 14, US$1 was equivalent to 1,183.61 South Korean won.