NHN Cloud is incorporating Innogrid, a cloud platform specialist and strategic partner, as a subsidiary to strengthen the competitiveness of its overall cloud business and consolidate its market position.
NHN Cloud announced Tuesday that it is pursuing a merger between its subsidiary NHN Injae INC and Innogrid, a cloud platform specialist company.
The merger will proceed by way of Innogrid absorbing NHN Injae INC. The merger ratio is approximately 1 to 31 between Innogrid and NHN Injae INC. The merger date is July 6, and after the merger, Innogrid, the surviving entity, will continue to be led by CEO Kim Myung-jin to maintain management continuity.
NHN Cloud expects that through this merger, the surviving entity Innogrid will secure competitiveness encompassing both technology and operational and management capabilities in the private cloud sector, and will be able to begin targeting the enterprise market in earnest.
Once the merger process is complete, NHN Cloud, as the largest shareholder and parent company of the surviving entity Innogrid, plans to focus on creating synergies across overall management.
NHN Cloud plans to combine Innogrid's cloud platform technology with its own infrastructure operation capabilities to meet the high security requirements of the public and financial sectors, while building an integrated service system spanning the entire process from service deployment to operation.
The company also plans to strengthen its response capabilities for multi-cloud and hybrid cloud environments, further enhancing its full-stack competitiveness covering all areas of the cloud.
"Through this business restructuring, we will strengthen our cloud business foundation spanning both the public and private sectors and build a stable growth framework," an NHN Cloud official said.
