KOSDAQ-listed company Sonide announced on the 12th that it will acquire 100% of the shares of Selector Co., Ltd. (CEO Kim Moon-gyu) for 15 billion KRW to enter the telecommunications and broadcasting equipment and parts distribution business.
Through this acquisition, Sonide plans to expand its existing business areas, improve its financial structure, and maximize shareholder value by exploring various new business opportunities linked to the telecommunications device distribution platform.
Founded in 2020, Selector is regarded as the "Olive Young of the mobile phone distribution industry" and operates a telecommunications device curated shop brand where customers can compare products from the three major mobile carriers?SK Telecom, KT, LG Uplus?and global smartphone manufacturers such as Samsung and Apple at a glance. It has achieved rapid growth based on an innovative distribution model that provides consumers with convenience in choosing carriers and devices.
Selector recorded sales of 31.5 billion KRW in 2024, a 45% increase from the previous year, and a gross profit of 4.9 billion KRW. To ensure sustainable growth, it is concretizing various strategies including pursuing mergers with affiliates, improving profit and loss structures by store, applying for venture company certification for the first time in the distribution industry, filing patents, preparing for an IPO (initial public offering), and establishing an affiliated research institute.
Sonide plans to proceed with aggressive expansion by making additional investments simultaneously with the acquisition of the company's shares. The company aims to diversify its business beyond the existing materials and parts sector into telecommunications and broadcasting equipment parts.
A company official stated, "We expect this acquisition to enhance shareholder value and secure financial soundness, laying the foundation for transforming from a deficit company to a profitable one," adding, "In particular, combining Selector's telecommunications device distribution platform with our IT platform will maximize synergy effects."
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