Enswers Acquired by KT for $40m and more [Weekly Korean Startup News, ~6 Dec 2011]

This post is written by Hyunseok Choi, editor at Onsuccess.me, a Korean Tech Blog with insights into Korean startup ecosystem and tech space.

1. Enswers, a leading video searching tech company, announced that it was acquired by KT for 45 billion won ($40 mn). Enswers will operate as a subsidiary of KT, and Softbank Ventures Korea, the largest shareholder prior to the acquisition, haven’t sold its shares. It seems Softbank Ventures Korea is expecting the value of Enswers is higher than its amount of acquisition.

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