Through management stake acquisition via third-party rights offering in NCN
B2EN, an AI and big data company, is pushing to expand into automotive imaging and semiconductor sectors.
The company announced Thursday it is pursuing a management stake acquisition in NCN, which operates automotive semiconductor and dashcam businesses.
B2EN plans to participate in NCN's third-party rights offering to acquire 2.5 million new shares for 6.25 billion won ($4.57 million). Once the acquisition is complete, B2EN will hold a 27.7 percent stake in NCN.
NCN is also a major shareholder of Nextchip, an automotive image recognition semiconductor company, holding a 23 percent stake as of the end of June. B2EN has been expanding primarily in data management, analytics and AI.
"We plan to explore new business opportunities that can respond to the software and AI transformation of the automotive industry by linking NCN's automotive imaging business with our data and AI technology," the company said.
freiheit@heraldcorp.com
