Artificial intelligence (AI) technology corporations Upstage said on the 7th that it has finalized the acquisition of AXZ, the operator of the Daum portal.
Upstage plans to use this acquisition as a springboard to combine its in-house large language model (LLM) "Solar" with Daum's search engine and vast content data to upgrade Daum into a next-generation AI portal. The goal is to differentiate with a "context AI" service that understands intent and context and provides answers, rather than simple keyword-based search, and to reconstruct all of Daum's services with AI.
The company said, "It will also create positive synergy for the independent AI foundation model project in which Upstage is participating as the lead," adding, "If the national AI model being developed with our own technology is combined with Daum, it appears that we can achieve the expansion of an AI service ecosystem for the public."
Upstage CEO Kim Seong-hun said, "This acquisition, which combines Upstage's technological prowess with the national portal that has a history of more than 30 years, will be a symbolic turning point for the AI industry in opening a new era of AI portals."
Earlier, Upstage and Kakao, the parent company of AXZ, signed a memorandum of understanding (MOU) in Jan., under which Kakao would transfer all of its AXZ equity to Upstage while Kakao acquires a certain equity stake in Upstage through a stock swap. After about four months of due diligence, the two companies completed the acquisition procedures this time.