Realization of the first communication affiliated company in the realm system… “Growth business-oriented portfolio reorganization”
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[KT 제공. 재판매 및 DB 금지]
(Seoul = Yonhap News) Reporter Sung-heum Seong = KT announced that it would sell its radio company KT Powertel to IDIS, a digital security equipment manufacturer at a board meeting on the 21st.
KT selected IDIS as the preferred negotiator for the sale of KT Powelltel on the 11th of this month, and decided to sell the entire 44.85% stake held by KT.
IDIS Holdings also announced that IDIS, a subsidiary, will acquire 7.71,418 shares of KT Powertel for 40.6 billion won.
This is the first time that KT has sold a telecommunications business affiliate since the inauguration of Lee Sang-mo last year.
CEO Jae-mo Lee recently emphasized new growth through the transition from’Live LAN New Year Ceremony’ to a digital platform company (Digico). This is a plan to challenge new businesses with high growth potential based on the strengths of KT’s artificial intelligence (AI), big data, and cloud.
In October of last year, when KTH and KT M House were merged, the company announced the reinforcement of its business capabilities in the distribution field with the launch of a digital commerce company.
With the sale of KT Powertel, KT plans to reorganize the group’s portfolio into a platform company focused on growth businesses such as finance, media, and contents, securing resources for new growth engines.
KT Powertel’s annual sales were 127 billion won in 2010 but plunged to 66.2 billion won in 2019.
Recently, instead of wireless communication, it is trying to convert its main business to the Internet of Things (IoT).
IDIS has developed a DVR (Digital Video Recorder) in 1998 and has been doing business in global markets such as the United States, Europe, Japan, and the Middle East.
After this acquisition, KT Powertel plans to expand the CCTV integrated control solution based on the wired network to the wireless network based integrated control system using KT Powertel’s wireless business and radio capabilities.
KT and IDIS plan to conclude the contract after completing the KT Powertel shareholders’ meeting and regulatory agency approval by the end of March.
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2021/01/22 17:06 sent