NHN Cloud said on the 27th it will push a merger between its subsidiary NHN Injae INC and cloud platform specialist INNOGRID. The move aims to strengthen competitiveness across its cloud business.
The merger will proceed with INNOGRID absorbing NHN Injae INC. The merger ratio is about 1:31 based on INNOGRID to NHN Injae INC, and the merger date is July 6.
After the merger, INNOGRID, the surviving corporation, will continue to be led by current CEO Kim Myeong-jin.
An NHN Cloud official said, "Through the merger between the two companies, INNOGRID, the surviving corporation, will secure competitiveness that spans technology, operations and management in the private cloud field and will ramp up its push into the enterprise market," adding, "After the merger procedures are completed, NHN Cloud, as the largest shareholder and parent company of the surviving corporation INNOGRID, will focus on creating synergies across overall management."
NHN Cloud plans to combine INNOGRID's cloud platform technology with its own infrastructure operations capabilities to meet high public and financial sector security requirements. Through this, it plans to build an integrated service system that covers the entire process from service construction to operations.
It also decided to enhance its response capabilities for multi-cloud and Hybrid Cloud environments to advance full-stack competitiveness that encompasses the entire cloud spectrum.
An NHN Cloud official said, "Through this business structure reorganization, we will strengthen the foundation of our cloud business spanning the public and private sectors and build a stable growth system."