Seegene Accelerates Digital Transformation with Strategic Acquisitions

Seegene, a molecular diagnostics solutions company led by Co-CEOs Jong-Yoon Chun and Dae-Hoon Lee, has announced plans to acquire several Korean IT companies this year to build a robust digital transformation (DT) ecosystem.

On June 11, industry sources revealed that Seegene had acquired 100% of the shares in Pentaworks, a software development specialist. To finance part of the acquisition, Seegene plans to sell approximately 127,195 shares of its own stock, valued at around $1.96 million. Founded in 2015, Pentaworks excels in backend system development and has collaborated with major Korean retailers and construction firms on various projects.

Pentaworks owns proprietary R&D platforms (AER and SSP) designed to maximize software development efficiency. The company will actively participate in Seegene's new business initiatives and enhance key web services for diagnostics.

In January, Seegene acquired Brex, a UX/UI planning and consulting firm, by purchasing 100% of its shares. To partially fund this acquisition, Seegene disposed of 84,632 shares of common stock, worth approximately $1.45 million. Founded in 2019, Brex has executed large projects for Shinhan Bank, Shinhan Card, Coupang, and Emart. Seegene cited the need for reliable IT partners to support digital innovation as the rationale behind this acquisition.

With the acquisition of Brex and Pentaworks, Seegene is accelerating its digital transformation by internalizing core IT capabilities. A Seegene representative stated, "Digital transformation is essential for biotech companies. Internalizing core IT capabilities ensures stable software development."

Seegene highlighted that the Pentaworks acquisition enhances information security and provides a comprehensive framework for backend software development. While Seegene has not disclosed details about future acquisitions, it indicated that its acquisition targets are not limited to software development firms.