Categories
  Encyclosphere.org ENCYCLOREADER
  supported by EncyclosphereKSF

LG CNS

From Wikipedia - Reading time: 5 min
LG CNS Co., Ltd.
Native name
주식회사 엘지씨엔에스
Company typePublic
KRX: 064400
IndustryInformation technology
FoundedJanuary 1987; 38 years ago (1987-01)
Headquarters
Seoul
,
South Korea
OwnerLG (49.95%)
Websitelgcns.com

LG CNS Co., Ltd. (Korean: 주식회사 엘지씨엔에스) is a South Korean technology company offering services in artificial intelligence, cloud computing and system integration.

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 was renamed 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]
  1. ^ Kang, John (February 5, 2025). "LG's IT Services Affiliate Slumps In Seoul Debut After $825 Million IPO". Forbes.
  2. ^ Gan, Benjamin Kok Siew; Lee, Jae Kyu; Sethi, Vijay. Premier E-business Cases from Asia Problem, Solution, Challenge, Impact Approach. Pearson Prentice Hall. p. 192. ISBN 9789810676902.
  3. ^ Yang, Heekyong; Jin, Hyunjoo (November 6, 2019). "South Korea's LG picks Macquarie Asset as preferred bidder for stake in IT unit". Reuters. Seoul.
  4. ^ Baek, Byung-yeul (November 19, 2018). "LG Group moving to reduce intra-group dealings". The Korea Times.
  5. ^ Murdoch, Scott; Lee, Joyce (February 5, 2025). "Tokyo tech IPO soars but Seoul deal tanks 10% in volatile Asian markets". Reuters. Sydney/Seoul.
  6. ^ Nam, Hyun-woo (October 6, 2024). "LG CNS seeks $5.9 bil. IPO, aims for early 2025 listing". The Korea Times.
[edit]
  • Official website
  • Business data for LG CNS:
Licensed under CC BY-SA 3.0 | Source: https://en.wikipedia.org/wiki/LG_CNS
10 views | Status: cached on February 14 2025 12:01:30
↧ Download as ZWI file
Encyclosphere.org EncycloReader is supported by the EncyclosphereKSF