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[Alpha Biz=(Chicago) Reporter Kim Jisun] SK Networks has decided to acquire Encore, a leading data solution and consulting company.
SK Networks held a board meeting on the 21st and approved the acquisition of 213,304 shares (88.47% stake) of Encore for 88.47 billion won.
SK Networks plans to complete the follow-up process by signing a stock trading contract within the year after conducting due diligence in the future.
SK Networks expects synergy in building data integration infrastructure with SK Rent-a-Car, SK Magic and SK Electronic Link as well as its headquarters. There is also a prospect that additional investment opportunities in the AI field will be explored based on large-scale data.
According to SK Networks, Encore, a data company established in 1997, is engaged in data management consulting and solution business.
In the case of data management solution, which is a core business area, it is the only company in Korea with nine solutions covering the entire data management area, including modeling, metadata and quality control. Encore has more than 500 customers in telecommunications, finance and mobility.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
