By Kate Yuan

China’s SIASUN Robot (新松机器人) announced on October 10 to acquire a 60% stake in SIASUN Robot Investment (新松投资) with RMB236 million ($32.85 million). SIASUN will directly hold 100% of the shares of SIASUN Robot Investment plus the 40% stake before the deal.

After the acquisition, SIASUN will indirectly hold 80% of the shares of SYNUSTech (formerly ShinsungFA), which was a spin-off of South Korean leading panel maker SHINSUNG focusing on factory automation business and acquired an 80% stake by SIASUN Robot Investment in January 2018.

SIASUN said the deal was in line with the company's overall strategy in the panel and semiconductor equipment business.

Founded in 2000, SIASUN Robot focuses on robot technologies and is based in Shenyang, northeastern China’s Liaoning Province. It has independently developed hundreds kinds of robot products which have been exported to more than 30 countries and areas.

The company set up branches in Hong Kong region, Singapore, South Korea and Thailand, with more than 4,000 R&D talents worldwide, it said.