SEOUL, Oct. 4 (Korea Bizwire) — South Korean internet portal giant Naver Corp. said Tuesday it will take over Poshmark Inc., a U.S. social commerce platform specializing in second-hand apparel trade, for 2.3 trillion won (US$1.6 billion) in a bid to broaden its North American business. According to its filing, Naver has agreed to buy [...]
SEOUL, Sept. 1 (Korea Bizwire) — South Korean cosmetic giant Amorepacific Corp. said Thursday it has reached an agreement with Tata’s Natural Alchemy LLC of the U.S. to fully acquire the American luxury skincare company. Amorepacific said it has reached the deal to acquire 100 percent of shares of the U.S. company, which operates the [...]
SEOUL, Aug. 25 (Korea Bizwire) — Singapore-based e-commerce firm Qoo10 plans to acquire TMON Inc. through a stock swap deal, industry sources said Thursday. TMON’s two major shareholders — Anchor Equity Partners and Kohlberg Kravis Roberts & Co. — have agreed on the stock swap deal with Qoo10, according to the sources. Under the deal, [...]
SEOUL, July 29 (Korea Bizwire) — South Korea’s app-based home-finding platform Zigbang Co. has completed its acquisition of Samsung SDS Co’s home internet of things (IoT) division. The company announced on Thursday that it took over home IoT business-related intellectual property rights and business rights for major sales, production and contracts from the Korean and [...]
SEOUL, July 15 (Korea Bizwire) — The planned merger between two major South Korean streaming services Tving and Seezn is expected to shake up the landscape of the local market and stir up fiercer competition for original content, experts said Friday. Entertainment giant CJ ENM, which holds a majority stake in Tving, said the previous [...]
SEOUL, July 8 (Korea Bizwire) — SD Biosensor Inc., a South Korean developer of COVID-19 test kits, said Friday it will acquire U.S. diagnostic kit maker Meridian Bioscience Inc. for about 2 trillion won (US$1.53 billion) in an effort to bolster its overseas operations. Through a consortium formed with SJL Partners LLC, a private equity [...]