SK Telecom In a bid to Acquire iriver For Their Wearable Device.
SK Telecom has recently announced their intention of acquiring iriver. According to SK Telecom and investment banking sources, SK Telecom has sent out a letter, written with intentions to Daiwa Securities, the principal underwriter to sell of the digital audio play maker.
The largest mobile telecom service provider based in Korea is interested in the wearable devices that irivers has been working hard to develop. At the moment, iriver produces low-cost smartphones, wearable devices, automobile black boxes, intelligent robots, and ebooks, as well as audio portable devices.
During the previous year, iriver launched their “iriver-on,”, the health portable care product, one of the wearable devices. SK Telecom has manage to unveil a social health care service named “Health-on” in a partnership with Seoul Nathional University. Analysts have predicted that SK Telecom;s acquisition over iriver could create quite the amount of synergies in the wearable devices market by combining iriver’s hardware production capabilities with SK Telecom’s content and service know-how.