South Korean trading firm SK Networks Co. announced on Friday that it has completed the acquisition process of en-core, a leading data solutions and consulting company.
This strategic acquisition aims to strengthen the company's AI value chain.
Following a board resolution in July, SK Networks finalized the deal in three months, making a payment of 95.1 billion won ($70.6 million) for an 88.47% stake in en-core. By integrating en-core, a pioneer in South Korea's data management landscape, into its portfolio, SK Networks anticipates securing consistent revenue streams and establishing a comprehensive, data-driven operational system.
Founded in 1997, en-core is a specialized data company primarily engaged in data management consulting and solution businesses. It has secured around 500 clients in various fields such as telecommunications, finance and mobility.
In data management business area, en-core has a full stack service system with nine solutions including modeling, metadata, and quality management.
This places en-core as the sole domestic entity delivering a comprehensive full-stack service portfolio.
"We are committed to supporting en-core as it expands its business horizons to include data analytics. We will also facilitate its entry into international markets, including Southeast Asia and Japan," CEO of SK Networks Lee Ho-Jeong said.
Write to Hyung-Kyu Kim at khk@hankyung.com
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