Hyundai Futurenet Co., Ltd. agreed to acquire Hyundai IT & E Co.,Ltd. from Hyundai G.F. Holdings Co., Ltd. and Hyundai Department Store Co. Ltd. for KRW 33.4 billion.
May 10, 2024
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Hyundai Futurenet Co., Ltd. (KOSE:A126560) agreed to acquire Hyundai IT & E Co.,Ltd. from Hyundai G.F. Holdings Co., Ltd. (KOSE:A005440) and Hyundai Department Store Co. Ltd. (KOSE:A069960) for KRW 33.4 billion on May 10, 2024. The consideration consists of KRW 33.4 billion in cash.
As of May 31, 2024, Hyundai G.F. Holdings Co., Ltd. had sold its stake in Hyundai IT & E.
Hyundai Futurenet Co Ltd is a Korea-based company principally engaged in the digital signage business. The Company operates its business through four segments. The Signage Business segment is engaged in the provision of video contents such as information, entertainment advertisement and others through display screens. The Messaging Business segment is engaged in the provision of message agency services sent by corporates used for reservation, order confirmation, and delivery to customers as well as advertising and other purposes. The Immersive Contents Business segment is engaged in the provision of media art exhibitions and operation of museums. The Cosmetic Materials Business segment is engaged in the manufacture and sale of raw materials for cosmetics, health functional food and other products.
Hyundai Futurenet Co., Ltd. agreed to acquire Hyundai IT & E Co.,Ltd. from Hyundai G.F. Holdings Co., Ltd. and Hyundai Department Store Co. Ltd. for KRW 33.4 billion.
HYUNDAI FUTURENET CO., LTD. 
