SEOUL– South Korean telecom giant KT Corp. said Thursday it has acquired global data company Epsilon Global Communications Pte. Ltd. to bolster the telecom operator’s data communications infrastructure.
KT said in a release it signed a deal Wednesday to acquire the company with Daishin Private Equity under South Korean brokerage firm Daishin Securities for US$145 million.
A KT official said the telecom operator will hold the management rights to Epsilon, although the official declined to comment on additional details of the deal.
The telecom operator expects the acquisition to boost its competitiveness in the global data market based on Epsilon’s data communications infrastructure, which includes over 260 points of presence across 20 countries, allowing stable data transmissions for companies.
Epsilon also operates internet data centers in London, New York and Singapore, according to KT.
The telecom operator added it will pursue incorporating its artificial intelligence (AI) services into Epsilon’s infrastructure as part of recent efforts to shed its telecommunications focus and enter new tech businesses.
KT has recently stepped up focus in developing AI technology, with aims to establish an AI research institute with KAIST, South Korea’s top science university, by the end of this year.
Source: Yonhap News Agency