B2EN to Become NC&’s Largest Shareholder, Boosting Automotive Semiconductor Synergies with NEXTCHIP

[Financial News]  B2EN, a company specializing in AI (artificial intelligence) and big data, is seeking to acquire management control of NC&, a vehicle dashcam maker.
NC& holds more than 20% of NEXTCHIP, an automotive image-recognition semiconductor company. As a result, B2EN’s business is expected to expand from AI and data into automotive electronics.
According to B2EN and Financial Supervisory Service electronic disclosures on the 17th, the company will participate in NC&’s third-party allotment paid-in capital increase and acquire 2.5 million newly issued shares for approximately KRW 6.25 billion. After the transaction is completed, B2EN is expected to hold approximately 27.7% of NC&, with the aim of securing management control.
The key point of the transaction is NC&’s stake in NEXTCHIP. As of the end of June, NC& held approximately 23% of NEXTCHIP, making it a major shareholder. NEXTCHIP develops automotive image-recognition semiconductors used in Advanced Driver-Assistance Systems (ADAS) and other applications.
Through the acquisition of NC&, B2EN will establish a business connection extending from its existing AI and data operations to vehicle imaging and automotive semiconductors. The company is also considering combining vehicle-generated video and sensor data with AI technologies.
An industry source noted, "Rather than simply adding a dashcam business, the significance lies in expanding B2EN’s business connections into automotive video and semiconductor fields through NC&. The key will be how concretely it can develop actual business synergies with NEXTCHIP going forward."
Meanwhile, NC& recorded second-quarter revenue of KRW 17.9 billion this year, while both operating profit and net profit turned positive. B2EN plans to pursue business links between its AI and data operations and the automotive electronics sector following the acquisition of management control.


[email protected] Kim Kyung-ah Reporter