Zigbang Co., Ltd. entered into an agreement to acquire Smart Home IoT Business from Samsung SDS Co.,Ltd. (KOSE:A018260) on January 27, 2022. The deal size is estimated at KRW 100 billion based on media reports. The signed acquisition agreement, aims to complete the deal in the second quarter of this year.

Zigbang Co., Ltd. completed the acquisition of Smart Home IoT Business from Samsung SDS Co.,Ltd. (KOSE:A018260) on July 28, 2022. Ernst & Young, Korea, Financial Advisory Arm acted as financial advisor and Ernst & Young, Korea acted as due diligence provider to Samsung SDS Co.,Ltd. (KOSE:A018260).