EQT Acquires Controlling Stake in South Korea’s Remember for $400M

Swedish private equity firm EQT, through its BPEA Private Equity Fund VIII, has agreed to acquire a controlling stake in South Korean HR tech platform Remember & Company in a deal valued at approximately 500 billion won (around $400 million). Remember & Company, founded in 2013 as a business card management app, has evolved into a leading professional networking and AI-driven recruitment platform serving over 10,000 enterprise clients with a database of more than 500 million business cards and 5 million users. The acquisition follows significant growth under previous investor Ark & Partners, who increased the company's revenues twelvefold and pursued aggressive expansion including acquisitions of related companies. EQT plans to leverage its global network, digitalization capabilities, and technology expertise to accelerate Remember’s growth and position it as a stronger competitor in the regional HR tech market, particularly as demand rises for AI-enabled talent management amid demographic shifts in South Korea. The transaction is expected to close in the third quarter of 2025, pending regulatory approval, and signals EQT's long-term commitment to the Korean market and the transformative potential of AI and data in recruitment. Other major shareholders, including South Korean internet giant Naver and recruitment platform Saramin, are involved, with EQT in discussions to increase its ownership stake.