Keystone Partners acquires 75% of Pims for KRW 60bn
- Deal value
- $41m
- Stake
- 75%
- Implied 100%
- $55m
- Revenue
- $7m
- Op. income
- $4m
- Multiples
- EQV/EBIT 14.5xPSR 7.5x
Deal value ÷ stake (structure unconfirmed)
2022 별도 · DART-verified
2022 별도 · DART-verified
On implied equity value
DART 20230413001162
- Target
- Pims · E-commerce back-end software (OMS)
- Buyer
- Keystone Partners · FI
- Seller
- Cafe24 (43%) and individual shareholders (32%)
- Structure
- —
- Announced
- Aug 10, 2023
- Closed
- —
- Stage
- Closed
Target
Founded in 2004, Pims develops and operates back-end solutions for e-commerce operators; its EasyAdmin order-management system aggregates orders from Coupang, Naver, Kakao and own malls and handles invoicing, CS, settlement and inventory.
Deal rationale
Edaily reported that Keystone decided to invest expecting continued growth in system-development demand as e-commerce expands. Herald Economy reported Keystone focused on Pims' software capability and growth potential. According to Financial News, this was the fifth investment of Keystone's 4th blind fund; Cafe24 keeps 8% and founder-CEO Hwang Sun-young keeps 17%.
| Revenue | $7m |
| Operating income | $4m |
| EBITDA | — |
| Net income | — |
2022 별도 · DART-verified · 20230413001162
Press coverage
- 파이낸셜뉴스 (2023-08-11): “핌즈 경영권 지분 75%를 인수하는 주식매매계약(SPA)을 체결”
- 헤럴드경제 (2023-09-05): “지난달 잔금납입을 마쳤다”
- 이데일리 (2023-12-18): “600억원 수준”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.