Kakao Acquires 51% Stake in Kiwi Plus
South Korean internet company Kakao has this week acquired a 51 per cent stake in KIWI PLUS, a local smart technologies company.
Kakao’s acquisition of KIWI PLUS will see the technology giant inject 10 billion won ($9.23 million) into the company. This will be used to strengthen Kakao’s portfolio.
What does this mean for the KIWI PLUS brand? Unclear. The KIWI WATCH 2 is still listed on the KIWI PLUS website. However, the website has been updated with product pages for the new Kakao Kids Phone and Kakao Kids Watch. As far as we can tell, the Kakao Kids Watch is the exact same device as the KIWI WATCH 2. It’s got the same display, processor and design, so it looks like the KIWI WATCH 2 is now the Kakao Kids Watch.
KIWI Plus was founded in 2013. They are best known for the KIWI Watch, a kid’s smartwatch with accurate location tracking. THE KIWI Watch 2 was launched in February 2017 and is one of the best kid’s smartwatches to come out of South Korea.
Kakao was founded in 2014 from a merger of Daum Communications and Kakao. The company has headquarters in Jeju City, South Korea. They are South Korea’s largest internet technologies company. They are known for their big acquisitions, such as the purchase of LOEN Entertainment for $1.5 billion in 2016.
Kakao’s acquisition of KIWI PLUS gives them a successful product line to rebrand and market. Further details about the acquisition haven’t been released as yet. We expect the KIWI PLUS brand to be restructured over the coming months. There’s no word on the third-generation kids watch either. We’ll keep you posted if there is any.