DAEGU, SOUTH KOREA -- The parent company of printed circuit board fabricator ISU Petasys today acknowledged reports in Korea business media that it considering possible mergers and acquisitions to diversify its business portfolio.

Chosun Biz today reported ISU Group is considering the acquisition of JEIO, a developer of carbon materials for products like batteries.

The move, Chosun Biz said, is part of a broader strategy by ISU Group to diversify beyond PCBs.

According to the report, ISU Group is looking to acquire approximately 40% of JEIO's shares for around 300 billion won.

The report quoted an unnamed ISU Petasys representative as saying, "We are reviewing various measures including mergers and acquisitions (M&A) to diversify our business structure, which is currently focused on existing PCBs, but no specific details have been confirmed yet."