Kemtronics Acquires Chinese Company to Strengthen Global Autonomous Driving Competitiveness

Subsidiary Nexbee Acquires Chinese Tech Specialist Company 'KSS Image Next'

[Asia Economy Reporter Kim Cheol-hyun] KemtroNics, a member company of the Korea Federation of Medium-sized Enterprises, announced on the 9th that its subsidiary, Nexbi, a company specializing in autonomous driving communication and sensors, acquired China's KSS ImageNext for 7.5 billion KRW. KSS ImageNext has been incorporated as a grandchild company of KemtroNics and will newly launch under the name "BeyondEye."

KSS ImageNext was established in May 2016 when KSS, a Chinese automotive parts manufacturer, acquired ImageNext, which had supplied surround view solutions to Hyundai Mobis since 2011. It is recognized for its high-level technology, maintaining stable cooperative relationships with global automakers and electronics companies such as China's Geely, the United States' Karma and Thomas Built Buses, and Japan's Kamos.

KemtroNics plans to introduce innovative products leading changes in the autonomous driving market by integrating the acquired tangible assets, intellectual property rights, and core technologies through this acquisition. Kim Bo-gyun, chairman of KemtroNics, stated, "With the expansion of autonomous driving, the vehicle camera and advanced driver assistance system markets, which are expected to experience explosive growth, represent a new innovative space where KemtroNics' proven potential continues to show sales growth despite COVID-19," adding, "through the development of advanced solutions, we aim to achieve 100 billion KRW in sales in the autonomous driving sector and firmly establish our position as a global leading company."