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DOUZONE BIZON Buys 74.38% Stake in Electronic Times for KRW 56B

Photo by Scott Graham / Unsplash

Seoul, South Korea - DOUZONE BIZON (KRX: 012510) announced the acquisition of a 74.38% stake in Electronic Times, a leading ICT media company, for KRW 56 billion (USD 41.8 million).

This marks a significant shift as both companies seek to expand their roles in the rapidly evolving digital landscape.

The Key Points

  • DOUZONE BIZON will acquire 74.38% (441,230 shares) of Electronic Times for KRW 56 billion.
  • The acquisition aims to synergize DOUZONE BIZON's cloud, big data, and AI expertise with Electronic Times' media power.
  • Both companies aim to support domestic industrial development, especially in future technologies such as AI, batteries, quantum, and aerospace.

Why it matters:

The acquisition brings together two major players in South Korea's tech landscape.

DOUZONE BIZON specializes in software-as-a-service (SaaS) platforms integrating cloud technology, big data, and AI.

It is considered a leader in driving digital transformation.

Meanwhile, Electronic Times, founded in 1982 and an essential voice in South Korea's knowledge industry, aims to enter a new phase in the AI and digital era.

The strategic move is expected to create market and industry synergies.

By combining DOUZONE BIZON's technological strengths with Electronics Times' ability to generate specialized tech content, Electronics Times is expected to provide an enhanced platform for businesses across industries, not just the tech sector.

The Big Picture

This collaboration will also focus on strengthening South Korea's national competitiveness in the ICT sector. DOUZONE BIZON is one of the most active TIPS operators, mentoring 20 startups.

By acquiring Electronic Times, they aim to identify and nurture companies that could become the backbone of South Korea's strategic industries.

The initiative aligns with global competition in emerging technologies such as AI, quantum computing, and aerospace.

DOUZONE BIZON reaffirmed its commitment to bridging the digital divide and fostering an inclusive technology environment.

* US$1=KRW1,339.64