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LG CNS
View on WikipediaLG CNS Co., Ltd. (Korean: 주식회사 엘지씨엔에스) is a South Korean technology company offering services in artificial intelligence, cloud computing and system integration.
Key Information
History
[edit]LG CNS was founded in 1987 as System Technology Management (STM), a 50:50 joint venture between LG and Electronic Data Systems. In 1995, the company was renamed LG-EDS System as part of LG Group's corporate identity integration project. After LG acquired all of EDS's shares, the company changed its name to LG CNS in January 2002.[1][2]
In 2019, LG sold a 35% stake in LG CNS to Macquarie Group for 1 trillion won (US$865 million). This sale occurred amid growing criticism of South Korea's chaebols for allegedly benefiting founding families by over-relying on outsourcing contracts and directing work to subsidiaries and affiliates.[3][4] Macquarie acquired the stake in LG CNS with the condition that LG would list the company by April 2025. As a result, LG CNS debuted on the market in February 2025.[5][6]
See also
[edit]References
[edit]- ^ Kang, John (February 5, 2025). "LG's IT Services Affiliate Slumps In Seoul Debut After $825 Million IPO". Forbes.
- ^ Gan, Benjamin Kok Siew; Lee, Jae Kyu; Sethi, Vijay (2007). Premier E-business Cases from Asia Problem, Solution, Challenge, Impact Approach. Pearson Prentice Hall. p. 192. ISBN 9789810676902.
- ^ Yang, Heekyong; Jin, Hyunjoo (November 6, 2019). "South Korea's LG picks Macquarie Asset as preferred bidder for stake in IT unit". Reuters. Seoul.
- ^ Baek, Byung-yeul (November 19, 2018). "LG Group moving to reduce intra-group dealings". The Korea Times.
- ^ Murdoch, Scott; Lee, Joyce (February 5, 2025). "Tokyo tech IPO soars but Seoul deal tanks 10% in volatile Asian markets". Reuters. Sydney/Seoul.
- ^ Nam, Hyun-woo (October 6, 2024). "LG CNS seeks $5.9 bil. IPO, aims for early 2025 listing". The Korea Times.
External links
[edit]- Official website
- Business data for LG CNS:
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