SoftBank-backed Yanolja sets sights on US DBMS companies Korean travel firm seeks to expand across geographies ahead of potential New York listing
Translated by Ryu Ho-joung 공개 2021-11-05 07:28:24
이 기사는 2021년 11월 05일 07:26 thebell 에 표출된 기사입니다.
Yanolja, a South Korean travel and leisure firm backed by Japan’s SoftBank, is looking for potential acquisition opportunities in the United States as it prepares for an initial public offering in New York.Yanolja has set its sights on database management system (DBMS) companies in the US after its recent acquisition of ecommerce platform Interpark, industry sources said on Wednesday.
The Seoul-based company is at an early stage of exploring potential takeover targets, according to sources. A database management system is software designed to store, retrieve and manage data in a database. US tech giant Oracle is one of top companies in this space.
With its ambitions to become a global leading company in the property management system business, Yanolja previously acquired Indian lodgings management platform eZee Technosys and Southeast Asia-based budge hotel chain Zen Rooms. Its focus on acquisitions is a key part of its growth strategy.
Yanolja raised $1.7 billion from SoftBank's Vision Fund earlier this year at an undisclosed valuation, boosting its cash levels. Even after taking into account the 294 billion won ($248.8 million) acquisition cost for Interpark and other operating expenses, the company will likely have ability to spend more than a trillion won on additional acquisitions, industry watchers said.
“Yanolja is exploring acquisition opportunities in the US, probably because it couldn’t find attractive targets in the domestic market after its takeover of Interpark,” an industry insider said. “It may want to speed up expansion to live up to expectations of its new backer SoftBank.”
Yanolja is preparing for an IPO on the Nasdaq. Its potential acquisition of a well-established US company in the database management system market could also help to pave the way for its listing in New York.
Yanolja said nothing has been finalized. “We are not specifically targeting US-based DBMS companies,” an official at the company said. “We are open to all opportunities of mergers and acquisitions to grow to a global scale.” (Reporting by Byung-keun Kam)
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