New ID has completed the acquisition and merger of 100% of the shares of technology company 39 Degrees.
According to NEW ID (CEO Park Jun-kyung) on the 14th, on January 31st, the company accelerated its technological advancement and business expansion as a software (Software as a Service) company for broadcasting/OTT/commerce platforms.
Through this merger and acquisition, New ID will add 39 Degrees' specialized broadcasting and commerce production solutions and content application construction know-how to its existing business, including FAST services and AI solutions for content localization. The main goal is to develop a business that can create synergy between media platforms regardless of format, such as paid broadcasting, OTT, and search platforms.
The broadcast production technology possessed by 39 Degrees includes a solution that can reduce the cost and time invested in existing broadcast production by up to 1/10, and is expected to play a key role in the media market where the cost-effectiveness of content production must be increased. The first project after the merger is the launch of the FAST professional platform and entry into the Asian media market.
Park Jun-kyung, CEO of New ID, said, "In the global media market of infinite competition, we feel the urgent need to play a role as a technological bridge that enables cooperation between content and platforms, and between platforms. 39do has been devoted to developing technologies related to broadcast production and real-time transmission for the past seven years. “Thanks to Mr.’s outstanding technological assets and teamwork, we will do our best to help New ID grow into a media company that helps various media companies take the next step and increases the value of content and platforms.”
Seungwon Seung-won, founder of Thirty-nine Degrees and director of New ID solution development, said, “Three-nine Degrees will actively use the technology services and corporate internalization know-how that Thirty-nine Degrees has developed and distributed to help New ID grow into a technology partner that connects global audiences.” “With the merger of the two companies, we will introduce a new business model that expands the content-related B2B business that New ID has successfully led so far into B2C,” he said.
New ID is the first in-house venture company of media company NEW and was established to innovate content distribution and production. Since its establishment in 2019, it currently has 80 CTV bases across North America, Europe, South America, Japan, and Korea based on direct partnerships with the world's top 20 global media companies such as Amazon, Roku, Samsung Electronics, and LG Electronics, as well as more than 30 adtech companies. It operates its own FAST (advertising-based real-time streaming TV) channels.
Kang Min-kyung, Ten Asia reporter kkk39@tenasia.co.kr