[NEWS] NTELS Took Managerial Control of Nable Communications

[NEWS] NTELS Took Managerial Control of Nable Communications

On September 2, NTELS Co., Ltd. (CEO JaeHee Shim) said in a regulatory filing that it acquired managerial control of Nable Communications by acquiring 1,181,488 shares from the largest stockholders of Nable Communications.

The acquisition cost is about KRW 14.5 billion, 35% of the owner’s equity. Now, NTELS owns 24.3% of Nable’s shares.

The purpose of this acquisition is to grow as a comprehensive communications solution company by adding fixed-mobile and voice-data convergence solutions to its product line and advance on the M2M/IoT market by adding enterprise-grade solutions.

An NTELS official said, “Through the acquisition of Nable, we have established a foothold in the local VoIP and IMS (IP Multimedia Subsystem) markets. This acquisition will allow us to improve the vertical integration of our technology solutions and sales force effectiveness in the telecommunication industry with voice and multimedia communications technologies.”