Bango Completes Investment From NHN Corp
Microsoft Corporation (MSFT)
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Source: PR Newswire
CAMBRIDGE, England, April 17, 2020 /PRNewswire/ -- The proposed expanded partnership between Bango (AIM: BGO), the mobile commerce company, and NHN Corp ("NHN"), South Korean big data business, announced on 3 April 2020, completed on 16 April 2020. NHN has invested £3.2M into Bango for a 4.7% shareholding. It also invested a further £6.5M for a 60% shareholding in Bango Deep - the Bango subsidiary that owns the Audiens Customer Data Platform business - with Bango retaining 40%. The new shares in Bango were admitted to trading on AIM ("Admission") on 16 April 2020.By taking a stake in Bango, NHN will benefit from the rapid growth in global mobile commerce, building on the initial data monetization relationship that was announced in October 2019. It underlines the strengthening of the existing partnership, which has enabled Bango and NHN to collaborate to produce Bango payment audiences for the South Korean market. The investment demonstrates NHN's desire expand this into a global part
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