Kakao acquires 76.4% stake in Loen for KRW 1.87 trillion

Monday 11 January 2016 | 09:25 CET | News
Mobile messenger operator Kakao has agreed to acquire a 76.4 percent stake in Loen Entertainment, provider of MelOn, for KRW 1.87 trillion. Loen Entertainment is a Korean music download and streaming platform provider. The acquisition is expected to provide Kakao with key assets to create new content platforms and expand into global markets by using Kakao's mobile platforms and Loen's music content.

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Categories: Mobile & Wireless
Countries: Korea, Republic of
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