Horiba Ltd. completed the acquisition of South Korean semiconductor equipment manufacturer EtaMax for an estimated ¥3 billion ($20.4 million), expanding its foothold in the growing power semiconductor market.
The transaction, finalized on April 3, integrates EtaMax’s photoluminescence-based wafer inspection systems with Horiba’s spectroscopy technologies. The Kyoto-based measuring instruments maker plans to leverage this combination to develop advanced wafer analyzers for compound semiconductors.
EtaMax, founded in 2008 with approximately 40 employees, specializes in equipment that detects defects on semiconductor wafers, particularly those using next-generation gallium nitride substrates. The South Korean firm generates about ¥1 billion in annual sales.
The acquisition aligns with Horiba’s strategy to significantly increase its presence in semiconductor manufacturing as global demand for specialized chips grows with the expansion of electric vehicles and artificial intelligence applications. The Japanese firm has set a target to increase sales in its semiconductor and advanced materials segment to ¥235 billion by 2028, a 60% jump from current levels.
