B2EN to Become ANC's Largest Shareholder, Securing a 'Mobility Value Chain' Linking to Nextchip

[Financial News]  B2EN has completed payment for ANC's new share issuance and begun the process of acquiring management control. The transaction will expand B2EN's business from its existing focus on artificial intelligence (AI) and data into future mobility, encompassing automotive imaging devices and semiconductors.
According to the company on the 28th, ANC has completed the payment process for a third-party allotment of new shares to B2EN. B2EN is acquiring 2.5 million new shares, which are scheduled to be listed on October 8. Once the new shares are listed, B2EN will become ANC's largest shareholder with an approximately 27.7% stake. Its stake, including shares held by related parties, will be 44.36%.
Industry watchers are focusing not merely on the acquisition of management control, but also on the mobility business connection B2EN will secure through ANC.
ANC operates an automotive imaging device business, including dashcams. As of the end of June, it held approximately 23% of Nextchip, a company specializing in automotive image-recognition semiconductors. For B2EN, acquiring ANC will establish a business link extending from automotive imaging devices to image-recognition semiconductors.
Additional procedures for the acquisition of management control are also scheduled. ANC plans to hold an extraordinary general meeting of shareholders on October 30 to address agenda items including amendments to its articles of association and the appointment of directors and an auditor. Following the meeting, B2EN plans to reorganize the management structure around the largest shareholder.
The key question going forward is how B2EN's AI and data technologies will be combined with ANC's automotive imaging business. B2EN plans to apply its data management, data quality and AI technologies to the automotive imaging business and develop new business models.
An industry source said, "This transaction could serve as an opportunity for B2EN to expand its business connections from its existing AI and data operations to mobility hardware and semiconductors," adding, "It will be important to see how quickly B2EN can present a concrete business structure linking ANC and Nextchip after the acquisition."


[email protected] Kim Kyung-a Reporter