SEOUL, South Korea — IDIS has acquired a controlling stake (44.84%) in KT Powertel, the radio communications subsidiary of telecoms giant KT Corp.
Although terms of the transaction with IDIS were not disclosed, the Korean Herald recently reported that KT Corp.’s board of directors’ 44.85% stake in KT Powertel was worth 40.6 billion won ($36.3 million USD). KT Corp. expects to finish the deal by the end of March, according to the report.
The move is said to strengthen IDIS’s offering in the security and safety sectors, with customers to benefit from push-to-talk over cellular (PoC) communications solutions, and an emerging generation of advanced safety and security systems encompassing a range of IoT devices.
KT Powertel has been leading the development of LTE broadband wireless radio technologies in Korea’s world-beating domestic market, according to an announcement.
The acquisition will now enable IDIS to capitalize on this expertise in South East Asia and expand its capabilities globally. The move will strengthen the company’s position as a provider of complete, end-to-end video solutions that are easier to install and that offer true flexibility and ease-of-use, and deliver on the promise of low total cost of ownership, the announcement states.
“In Korea’s highly competitive and advanced home market KT Powertel has been a mobile communications leader for over 35 years, with more subscribers nationally than any other provider, delivering consistently strong sales and profits,” says IDIS CEO Y.D. Kim.
KT Powertel developed one the world’s first blind spot-free LTE radio services, Power Talk, and PoC communications solutions. PoC radios support advanced functions including instant group calling, messaging, GPS location tracking and emergency notifications. This, combined with LTE cellular networks, provides the bandwidth necessary for advanced video and data applications.
KT Powertel’s depth of expertise in communications technology aligns well with IDIS’s focus on video surveillance and analytics solutions operated through a choice of video management systems and controlled via authorized access to client software or mobile applications.
The acquisition will strengthen IDIS’s position in key markets including critical infrastructure applications, and both government and commercial sectors, according to the announcement.
The move will further boost IDIS’s R&D capabilities in crucial growth areas including IoT.
The announcement cites recent analysis estimates that the number of businesses using IoT technologies has risen from 13% in 2014 to around 25% today, with rapid acceleration now expected. Growth will be driven by the introduction of new and more capable sensors, more computing power, and more reliable mobile connectivity. As sensor technology becomes more powerful and affordable, it will become easier to expand and adapt security systems with a growing toolkit of remote add-on devices.
“As we look forward, video solutions will need to be increasingly convenient for customers to use on the move, and they’ll need to be more flexible to install and extend with IoT and wireless technology. In all these specialisms, IDIS’s acquisition of KT Powertel will extend its expertise as it develops leading-edge solutions to increase security and safety in a range of applications,” adds Kim.
IDIS is South Korea’s largest in-country video security technology manufacturer.
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