South Korea mobile operator SK Telecom (SKT) acquired a controlling stake in digital advertising company Incross for KRW53.5 billion ($46.9 million), a move aimed at enhancing its digital media capabilities.
The operator purchased a 34.6 per cent stake NHN Entertainment held in Incross, which SKT described as a leader in the digital media industry.
In a statement, the operator said combining its technology with “the targeted advertising capabilities of Incross, we will grow into a digital marketing provider that maximises the satisfaction of our advertisers.”
Through the acquisition, SKT said it plans to respond to the rapidly changing trends in digital advertising and to integrate its various information and communication technologies to strengthen synergies with its existing businesses, including media and commerce.
Incross generated revenue of KRW226 billion and operating profit of KRW11.1 billion in 2018. The company has its own R&D capabilities and runs the advertising network Dawin, which SKT said was the first in Korea to bundle video media and sell it to advertisers.Subscribe to our daily newsletter Back