Kemtronics Acquires Chinese Company to Strengthen Global Autonomous Driving Competitiveness
Subsidiary Nexbee Acquires Chinese Tech Specialist Company 'KSS Image Next'
[Asia Economy Reporter Kim Cheol-hyun] KemtroNics, a member company of the Korea Federation of Medium-sized Enterprises, announced on the 9th that its subsidiary, Nexbi, a company specializing in autonomous driving communication and sensors, acquired China's KSS ImageNext for 7.5 billion KRW. KSS ImageNext has been incorporated as a grandchild company of KemtroNics and will newly launch under the name "BeyondEye."
KSS ImageNext was established in May 2016 when KSS, a Chinese automotive parts manufacturer, acquired ImageNext, which had supplied surround view solutions to Hyundai Mobis since 2011. It is recognized for its high-level technology, maintaining stable cooperative relationships with global automakers and electronics companies such as China's Geely, the United States' Karma and Thomas Built Buses, and Japan's Kamos.
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KemtroNics plans to introduce innovative products leading changes in the autonomous driving market by integrating the acquired tangible assets, intellectual property rights, and core technologies through this acquisition. Kim Bo-gyun, chairman of KemtroNics, stated, "With the expansion of autonomous driving, the vehicle camera and advanced driver assistance system markets, which are expected to experience explosive growth, represent a new innovative space where KemtroNics' proven potential continues to show sales growth despite COVID-19," adding, "through the development of advanced solutions, we aim to achieve 100 billion KRW in sales in the autonomous driving sector and firmly establish our position as a global leading company."
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