SK Holdings has acquired LG Siltron in a move to vertically integrate its semiconductor business.

SK held a board of directors' meeting on Monday and decided to buy 51 percent of LG Siltron’s shares held by LG Group for 620 billion won. That’s around 532 million U.S. dollars.
 
Under the deal, the two firms signed a stock purchase agreement and agreed to conclude acquisition procedures at an early date.
 
LG Siltron manufactures and sells wafers which are used to make semiconductor chips. The company had the fourth highest global market share last year in the 300-millimeter wafer sector.