On the 28th of this month, the amendment of the articles of incorporation for the new project of the provisional shareholders' meeting
The establishment of a spatial information establishment
headquarters...Development of new business areas through mid- to long-term development plans
[Seoul = News Pim] Reporter Yang, Tae-hoon = Wavus will promote the transition to a business structure that encompasses the entire process of the spatial information business by acquiring Naver System's geographic information system construction division.
According to the Financial Supervisory Service's electronic disclosure system on the 18th, Wavus plans to hold an extraordinary shareholders' meeting in the headquarters' conference room on the 28th and vote on adding new projects related to spatial information, such as aircraft filming, ultra-light flight devices, and geodetic surveys, to the purpose of the project.
Wavus is a spatial information integration solution company established in October 2004 after Ssangyong's information and communication geographic information system business division became independent. Major products include "WeMap," a geographic information system-based business processing solution, "WeFramework," a spatial information-specific development framework, "ImFramework," an information-linked framework, and "GeOnPaaS," a cloud-based spatial information development platform.
The Wavus logo. [Photo = Wavus]
After the merger with Uanta's 5th SPAC in April last year, it was listed on the KOSDAQ market through SPAC listing, and recorded 28.7 billion won in sales and 2.4 billion won in operating profit in the third quarter of this year. This is an increase of 34.05% and 480.88% year-on-year, respectively.
On the 21st of last month, Wavus announced that it would acquire Naver System's geographic information system business to secure the spatial data production sector required in the process of developing new businesses such as digital twin, metaverse, and autonomous driving. The acquisition targets assets related to the geographic information system business sector, patent rights, trademark rights, goodwill, and licenses, and the acquisition base date is the 31st.
"The spatial information industry has been divided into areas that produce, process, and distribute spatial information and areas that use it to provide services," a Wavus official said. "We plan to expand our business to production, processing, and distribution by acquiring Naver System's geographic information system construction part."
Mappick, a waiver-subscribed map collaboration service. [Photo = Wavus]
Through the acquisition of Naver System's sales division, new contracts and sales generated in the field of spatial information construction of the National Geographic Information Institute can be secured immediately, and by carrying out the database construction division generated by Wavus dgital twin, map pick, and public projects on its own, it can reduce costs and increase sales. He added, "It will also lay the foundation for entering the field of database construction for overseas projects."
Through this acquisition, Wavus plans to actively participate in 3D data construction and precise road map construction projects. Furthermore, it plans to establish a spatial information construction headquarters and establish mid- to long-term development plans to focus on pioneering new business areas.
In particular, the business area of the subscription-type map collaboration service MapPick will also be expanded. MapPick is a map-based data management subscription service that allows you to freely create and share maps in B2B and B2C areas. It provides innovation to create personalized maps within 5 minutes as well as to enable 24-hour Q&A by utilizing the generated AI technology.
"The purpose of the MapPick service is to collect and update various information to create and provide services to users in all fields," Wavus said. "Through Naver System's acquisition of the geographic information system business division, we will provide a wider range of services by putting professional technology into collecting, updating, and converging information." For example, various statistical information, drawings announced on paper, and text-based information will be precisely self-processed and registered and serviced.
[Access the original press release]
