Ailing smartphone maker Pantech has been given a new lease of life at the 11th hour. Computer equipment manufacturer Optis, which has been preparing to acquire Pantech, said Friday it has reached a final decision to buy the smartphone maker as part of a consortium with communications equipment maker Solid.
The Seoul Central District Court said the Solid-Optis consortium will sign the acquisition contract once the bankruptcy court gives the green light.
Around 1,000 research staff and some 200 manufacturing workers are expected to keep their jobs.
The consortium plans to acquire Pantech's patents and staff for W40 billion (US$1=W1,149), but the manufacturing plant in Gimpo and nationwide after-service network were left out of the deal.
In May, Pantech asked the Seoul Central District Court to end its receivership because no suitable investor could be found.
The Solid-Optis consortium intends to sell Pantech smartphones in Indonesia and other countries in Southeast Asia, where demand is soaring.
http://english.chosun.com/site/data/html_dir/2015/07/20/2015072000444.html
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