Skylake Equity Partners acquires 60.7% of TmaxSoft for KRW 562bn
Not yet reviewed: summarised from filings and press reports; figures may differ between reports. Please check the original sources.
- Deal value
- $388m
- Stake
- 60.7%
- Implied 100%
- $639m
- Revenue
- —
- Op. income
- —
- Multiples
- —
Deal value ÷ stake (structure unconfirmed)
- Target
- TmaxSoft · System software (middleware)
- Buyer
- Skylake Equity Partners · FI
- Seller
- Chairman Park Dae-yeon and related parties
- Structure
- —
- Announced
- Dec 15, 2021
- Closed
- —
- Stage
- Closed
Target
TmaxSoft is a system software company whose flagship web application server 'JEUS' leads a portfolio of middleware, OpenFrame and HyperFrame products; it was reported to hold the No.1 position in Korea's middleware market with a 40%-plus share.
Deal rationale
Byline Network reported that founder Park Dae-yeon opted to sell after TmaxSoft's IPO failed, with a call option to buy back the shares two years after the sale for two years (March 2024-March 2026), a put option allowing Skylake to sell back to Park, and a pledge of 67% of Tmax Tibero if both options went unexercised. The stake sold was 60.9% held by Park, his companies and family (SBS Biz: 60.7%) for about KRW 560bn (Seoul Economic Daily league table: KRW 562bn), while reports at the preferred-bidder stage in December 2021 cited the KRW 800bn range. No official statement of Skylake's rationale was found. Bizwatch reported Tmax Data exercised the call option and reacquired 60.8% in August 2024.
Press coverage
- 서울경제 (2022-12-30): “티맥스소프트 경영권 매각(5620억 원)”
- SBS Biz (2021-12-15): “매각가는 8000억원대로 알려졌습니다.”
- 지디넷코리아 (2022-03-16): “6개월 만에 티맥스소프트 인수를 마무리했다.”
- 바이라인네트워크 (2024-04-01): “매각가는 약 5600억원이다.”
- 비즈워치 (2024-09-06): “티맥스소프트 지분 60.8%를 다시 가져왔다”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.