Zigbang to acquire Samsung SDS Home IoT business
Not yet reviewed: summarised from filings and press reports; figures may differ between reports. Please check the original sources.
- Deal value
- —
- Stake
- —
- Implied 100%
- —
- Revenue
- —
- Op. income
- —
- Multiples
- —
- Target
- Samsung SDS Home IoT business · Smart-home devices
- Buyer
- Zigbang · SI
- Seller
- Samsung SDS
- Structure
- —
- Announced
- Jan 27, 2022
- Closed
- —
- Stage
- Announced
Target
Samsung SDS's Home IoT division develops and sells smart-home devices including 'Samsung Door Lock' (Korea's No.1 digital door lock since its 2004 launch), 'Samsung Wall Pad' and lobby phones, spanning Korean and Chinese operations, with reported annual sales of over KRW 100bn.
Deal rationale
A Zigbang official said it joined the deal expecting the combination of its software capabilities with Samsung SDS's hardware technology to transform the smart-home industry at home and abroad, and after closing said it would combine Samsung SDS hardware with its housing-management software to realize its smart-home vision. CEO Ahn Sung-woo said Zigbang would gradually strengthen its smart-home identity after integration. iNews24 reported Zigbang was diversifying because advertising revenue alone limited growth. Samsung SDS selected Zigbang as preferred bidder in October 2021, and the business transfer was completed on 2022-07-27.
Press coverage
- 연합뉴스 (2022-01-27): “직방, 삼성SDS 홈IoT 부문 인수”
- 한국벤처캐피탈협회 M&A 뉴스레터 (2022-02): “직방, 삼성SDS 홈IoT 부문 인수”
- 비즈워치 (2022-07-28): “삼성 홈IoT 부문은 국내 스마트홈 시장에서 우위를 차지해 왔으며, 연간 매출은 1000억원 이상”
- 아이뉴스24 (2021-12-03): “자사 소프트웨어 역량과 삼성SDS의 하드웨어 기술, 역량이 결합하면 국내는 물론 해외 스마트 홈 산업을 혁신할 것으로 기대해 인수에 참여했다”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.