HORIBA STEC KOREA, Ltd. (Yongin City, South Korea), a HORIBA subsidiary responsible for the Group’s semiconductor business in South Korea, has acquired EtaMax Co., Ltd. (Suwon City, South Korea; hereinafter “EtaMax”), a developer, manufacturer, and seller of wafer inspection system for the semiconductor market. The share transfer was completed on April 3, 2025.
The HORIBA Group aims to expand its lineup of wafer inspection system and enhance its solution-proposal capabilities by integrating spectroscopy-related technologies developed in-house over many years with EtaMax’s software technology and extensive expertise in inspecting for defects in compound semiconductor wafers. This integration will contribute to boosting yield and enhancing quality control for compound semiconductor wafers.
Context of the Acquisition
The increasing demand for data centers driven by the global expansion of EVs and AI is accelerating the adoption of compound semiconductors, known as next-generation power semiconductors. While compound semiconductors offer high performance and durability, loss of yield in the manufacturing process due to wafer defects remains a challenge, creating a strong demand for precise and efficient inspections.
The HORIBA Group aims to achieve sales of 235 billion yen by 2028 in the Materials & Semiconductor field—a key area of focus in the Group’s Mid-Long Term Management Plan (MLMAP2028). In pursuing our vision for this field—to shape the market with innovative solutions in the advanced materials and semiconductor field toward achieving sustainable society—it was essential to bolster R&D of compound semiconductor wafer inspection system in order to provide comprehensive analytical solutions that enhance the semiconductor manufacturing process.
Business Features and Objectives
EtaMax primarily develops wafer inspection system utilizing photoluminescence*1 analysis technology. The company excels in a diverse range of applications, including assessing uniformity and identifying types of minute defects in compound semiconductor wafers.
This acquisition will allow us to leverage the HORIBA Group’s extensive global network to drive business expansion. Furthermore, we will be able to accelerate new product development and enhance our solution-proposal capabilities by synergizing EtaMax’s software technologies with the HORIBA Group’s core technologies, such as Raman spectroscopy*2 and ellipsometry*3. This will aid in boosting yield and enhancing quality control in the process of mass-producing compound semiconductor wafers.
The HORIBA Group is committed to creating new value to meet the diverse analysis and measurement needs of our customers in the semiconductor manufacturing process.
EtaMax Company Profile
| Name | EtaMax Co., Ltd. |
| Established | 2008 |
| Location | 280-17, Saneop-ro 155beon-gil, Gwonseon-gu, Suwon-si, Gyeonggi-do, 16648, Korea |
| Representative | CEO Jung Hyundon (정현돈) |
| Employees | 40 (as of December 31, 2024) |
| Main businesses | Development, manufacture, and sale of wafer inspection system |
HORIBA STEC KOREA Company Profile
| Name | HORIBA STEC KOREA, Ltd. |
| Established | 1994 |
| Location | 98, Digital valley-ro Suji-gu, Yongin-si Gyeonggi-do 16878 Korea |
| Representative | CEO／President Teruhiro Tamura |
| Employees | 112 (as of December 31, 2024) |
| Main businesses | Production, sale, and service of flow control system for gases and liquids |
*1 An analytical technology that obtains information on defects and impurities by absorbing light at a specific wavelength and measuring the light (fluorescence) emitted by the sample.
*2 An analysis technology that evaluates molecular structure and properties by irradiating a sample with light and detecting the scattered light.
*3 An analysis technology that determines the thickness and properties of a sample by measuring changes in the vibrations of light incident on the sample and reflected light.
