KOSDAQ-listed CS(065770) on the 20th finalized a contract to acquire Mirae Information Technology. The deal had been slated to close in August, but CS secured acquisition funds early and wrapped up the transaction ahead of schedule.
The Mirae Information Technology acquired by CS is a master distributor of Hanwha Vision(489790) CCTV and distributes products to public-institution suppliers. In its first year under external audit, last year, it posted 34.1 billion won in sales and 2.3 billion won in operating profit.
CS said it highly valued Mirae Information Technology's secure market position as a Hanwha Vision master distributor and its strong network with supplying firms. The public-institution CCTV market is also continuing to grow.
A CS official said, "We will raise corporate value by driving synergy and growth with the mobile communication repeater business and the video surveillance device business as two pillars," adding it would maximize the impact of the Mirae Information Technology acquisition.