[Public Notice+] Ssangyong Information & Communications Acquires Comtec Information & Communications... Strengthening Public Cloud Business Segment

[Asia Economy Reporter Koo Eun-mo] Ssangyong Information & Communications announced on the 30th through a public disclosure that it will acquire a 43.16% stake in Comtec Information & Communications for 6.2 billion KRW.

Through this acquisition, Ssangyong Information & Communications plans to strengthen its capabilities in the public cloud business sector. Comtec Information & Communications provides integrated solutions such as system integration, IT infrastructure construction, virtualization setup, data center construction, and cloud system migration to organizations including the National Information Resources Service and the Korea Agency for Digital Opportunity and Promotion.

A representative from Ssangyong Information & Communications stated, "With the acquisition of Comtec Information & Communications shares, the company's capabilities in the public cloud business sector have been further enhanced," adding, "The horizontal expansion of clients and supply chain growth will continue to drive an upward trend in performance."

In the third quarter, Ssangyong Information & Communications completed its defense projects and achieved a turnaround to profitability by recording sales of 71 billion KRW and an operating profit of 300 million KRW through profitability-focused businesses. Additionally, the company has begun to actively pursue its cloud business by winning the 'EBS Common API (App Interface)-based High School Lecture Reconstruction and Family Site Cloud Migration Development Project.' This project aims to reduce mid- to long-term operating budgets through the cloud migration of EBS internet services and to enable rapid response to changing business environments.