[Asia Economy Reporter Oh Su-yeon] IDIS Powertel announced on the 22nd that it held a board meeting on the 21st and decided to acquire Linkgenesis, a software development specialized company.
IDIS Powertel will acquire 20.7% of the shares held by Linkgenesis for approximately 23.6 billion KRW. Through this merger and acquisition (M&A), IDIS Powertel secured software development capabilities to internalize radio communication technology. They plan to complete the digital radio platform with their own technology and use it as a foothold not only to expand the domestic market but also to advance globally.
With this acquisition, IDIS Powertel has secured not only radio communication system operation capabilities but also software development capabilities. They intend to accelerate the development of the digital radio platform.
Previously, Kim Young-dal, CEO of IDIS Holdings, stated that after acquiring IDIS Powertel last year, radio communication must evolve into a digital platform-based technology to enter the global market. He also emphasized that technological independence through internalization of core radio communication technologies such as platform and sales IT systems is essential.
Linkgenesis, established in 2003, recorded sales of 17.2 billion KRW and a net profit of 2.1 billion KRW in 2022. It is a software specialized development company with 70% of its employees being technical staff. Its main technologies include AI-based automated testing and smart factory software, supplying products to domestic and international global companies such as Samsung Electronics, Hyundai Motor Company, and Olympus.
IDIS Powertel and Linkgenesis plan to complete the acquisition through a shareholders' meeting at the end of March.
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