[Asia Economy Reporter Lim Jeong-su] Ssangyong Information & Communications, which has been incorporated into the ITCEN Group affiliates, announced on the 30th that it will acquire a 43.16% stake in Comtec Information & Communications for 6.2 billion KRW.
With this acquisition, Ssangyong Information & Communications plans to strengthen its capabilities in the public cloud business sector. Ssangyong Information & Communications possesses expertise and various references in the integration of public networks such as defense and sports. In particular, it recently successfully completed the Navy Tactical Performance Improvement project, earning recognition for its outstanding technological capabilities.
Furthermore, by acquiring Comtec Information & Communications, it expects to create mutual technological synergy effects. Comtec Information & Communications provides integrated solutions such as system integration, IT infrastructure, virtualization, data centers, 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, “Through acquiring the stake in Comtec Information & Communications, our company's capabilities in the public cloud business sector have been further strengthened,” adding, “The horizontal expansion of our client base and supply chain will continue to drive performance growth.”
Meanwhile, Ssangyong Information & Communications achieved sales of 71 billion KRW and an operating profit of 300 million KRW in the third quarter of this year through defense projects, successfully turning profitable.
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