NHN-Acquired InnoGrid... Itech Systems Also Invests 100 Billion Won

Itech Systems has invested 100 billion won in InnoGrid, now a subsidiary of NHN Cloud. The current largest shareholder controls overall management direction, with the former largest shareholder participating as a business partner. InnoGrid announced a 99.999 billion won third-party placement equity issue on August 6, issuing 12.5% of its existing 10.009 million shares. The investment will expand Itech Systems' stake in InnoGrid, supporting solution development and business expansion. NHN Cloud plans to integrate InnoGrid's platform technology with NHNinreainc's infrastructure capabilities to grow cloud services in public, financial, and corporate markets.