NHN Corporation Acquires 4.7% Stakes in Bango for £3.2M

The NHN Corporation, a leading South Korean Data Business company, has acquired the 4.7% stakes in Bango for a value of £3.2M. According to the PR News Wire New Agency, Bango, the mobile commerce company, has announced that completion of investment on April 16, 2020.

It is important to mention that NHN Corporation has invested £3.2M in Bango for 4.7% shareholding. Furthermore, the company has also made £6.5M investment in Bango Deep for 60% shareholding. Bango Deep is basically a subsidiary of Bango that owns a customer Data Platform Business. NHN Corporation has acquired 60% share of the company, leaving only 40% to its native company.

After taking notable stakes in the Bango, the NGN Corporation will benefit from the rapid growth of the company in global mobile commerce platforms. The recent collaboration of Bango and NHN Corporation will also help to produce Bango payment audiences for the condense market of South Korea. The investment demonstrates the desire of NHN to expand its global partnership with Bango and to gain benefit from the growth and product development of Bango.

Boss of Bango, Paul Larbey, said, “The Bango strategy is to become the technology behind every purchase choice, helping our partners to build more profitable and longer-term commercial relationships with their customers. This closer linkage with NHN enables Bango to capitalize on emerging technological and consumer trends and apply more primary research to the continuous development of our payments and data monetization products.”

Boss of NHN, Jinsoo Lee, said, “With our experiences and expertise in data for gaming, payment and digital marketing, we empower our customers to innovate by creating and utilizing the most valuable data for their businesses. From these experiences we have learned that teaming up with technology leaders like Bango is crucial for continuing to grow ahead of the market through data-led solutions.”

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