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Ad agency Directors Company acquires data analytics firm Bitnine

Published: 05 Dec. 2024, 17:48 Updated: 05 Dec. 2024, 17:52

SARAH CHEA
[email protected]

Directors Company CEO Shin Jae-hyuk, left, and Bitnine CEO Kang Chul-sun [DIRECTORS COMPANY]

Advertising agency Directors Company has finalized the acquisition of Kosdaq-listed Bitnine in a move to expand its global presence by combining analytics expertise with AI-based advertising production and marketing capabilities.

Directors Company said Thursday it has become the largest shareholder of Bitnine through a third-party capital increase and appointed its chief financial officer, Jegal Wan, as the managing director of the tech company.

Having worked as a consultant at Samjong KPMG and an investment manager at Coolidge Corner Investment, Wan will be spearheading new business initiatives and financial restructuring at Bitnine.

Founded in 2013, Bitnine owns AgensGraph, a unique hybrid solution technology combining relational and graph databases, which help visualize and analyze massive amounts of data.

Directors Company will combine Bitnine's technology with its AI-driven production capabilities, which it achieved in November through a 100 percent stake acquisition of Skaiworks, known for its proprietary technology that combines 3-D product modeling with AI-driven natural language prompts to create photorealistic video advertisements without traditional filming.

The acquisition of Skaiworks also opened the door for global expansion for Directors Company through Skaiworks' 500 global clients including Bvlgari, Givenchy and Hublot.

Directors Company expects synergy with Bitnine will expedite expansion into sectors such as e-commerce and digital marketing, offering innovative solutions to global clients.

"This merger transcends a mere technological alliance; it demonstrates the commercial viability of AI technologies. We are committed to evolving into a leading AI agent enterprise in the global arena," said Directors Company CEO Shin Jae-hyuk.

BY SARAH CHEA [[email protected]]