In a time where mergers and acquisitions are always abuzz, it honestly comes as no surprise to hear rumors of more mergers and acquisitions, especially after this year’s biggest acquisition of a messaging app has come and gone.
A possible merger with Daum is a pretty big deal
News of the merger comes from the Maeil Business Newspaper (via), which said investment banks had mentioned board meetings between the two companies to discuss the merger. Neither of these officials have been identified, of course, and nothing has been confirmed, which puts this in the “maybe” pile for now. If the companies due pursue a merger, they’ll likely do it with a shares exchange.
The combined company would be worth more than 3 trillion won ($2.92 billion) in market value and could see Daum internet data make an appearance in the Kakao service, adding another suite of features and in-app income for the Asian company and its users. This could also prove useful in giving Daum a presence in overseas markets.
The reports of the merger have been confirmed, giving KakaoTalk a listing in the Seoul stock exchange. Daum will be renamed Daum Kakao and the new company will be listed in October.