Hancom acquires local drone, aerospace solutions developer to broaden business

2020.09.10 14:38:32 | 2020.09.10 15:33:29

[Photo provided by Hancom Group]이미지 확대

[Photo provided by Hancom Group]

Hancom Group, the parent of South Korea’s leading office software developer Hancom Inc., has acquired a local satellite ground station solutions and drone technologies developer InSpace Co.

The acquisition would add aerospace and drone solution to its software-focused portfolio, the company said Wednesday. Contract details like financial terms were not disclosed.

InSpace, founded in 2012, developed high-quality image analysis solution based on satellite utilization and ground station platform leveraging on real-time data processing and system operation. Last year, it developed an automatic drone operation solution DroneSAT to provide an integrated drone control and monitoring system.

Hancom aims to combine its technology in Internet of Things, self-driving and blockchain with InSpace’s DroneSAT solution in hopes to join future smart city projects of the government. It also is planning to further expand collaboration with InSpace to satellite-related services.

Previously, Hancom announced it entered a partnership with Chinese drone maker DJI in February. It was licensed to operate a Korean center of DJI’s drone pilot training academy and unveiled its plan to build the pilot school in Gapyeong, Gyeonggi Province.

Hancom shares rose 2.53 percent to close Thursday at 20,3000 won ($17.13) in Seoul.

By Shin Chan-ok and Lee Ha-yeon

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