Settlebank acquires 74% of CODEF for KRW 11.1bn
SI Other Fintech (data relay, MyData)
Not yet reviewed: summarised from filings and press reports; figures may differ between reports. Please check the original sources.
- Deal value
- $8m
- Stake
- 74%
- Implied 100%
- $10m
- Revenue
- —
- Op. income
- —
- Multiples
- —
Deal value ÷ stake (structure unconfirmed)
- Target
- CODEF · Fintech (data relay, MyData)
- Buyer
- Settlebank · SI
- Seller
- —
- Structure
- —
- Announced
- May 4, 2022
- Closed
- —
- Stage
- Closed
Target
CODEF is a data-relay solution company distributing domestic and overseas data across finance, asset management and healthcare, and received full MyData (personal credit information management) approval from the FSC in December 2021.
Deal rationale
Settlebank said it was launching a data business this year and expected the stake purchase to enable early entry into that market, aiming to become a techfin company for the Web 3.0 era.
Press coverage
- 이데일리 (2022-05-04): “코드에프(대표 여용주·서성권)의 지분 74%(82만1400주)를 111억원에 인수했다.”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.