Etech System attracts $130 mn investment

South Korea's integrated IT solution consulting company Etech System attracted an investment of 180 billion won ($130 million) from private equity firm SG Private Equity, the company announced on Monday.

Etech System plans to strengthen its business areas including IT strategy consulting, system integration (SI), and network integration (NI). The company plans to expand investments in the cloud and software sectors.

As an affiliate of the Etevers Group, Etech System will use this investment to restructure its governance, positioning Etevers and EterverseBT as a subsidiary and a subsidiary of a subsidiary, respectively.

"With the investment raised, the Eteverse Group will centralize its governance structure around the Etech System, improve decision-making efficiency, and concentrate its capabilities to pursue an initial public offering (IPO) shortly," Jeong Myeong Cheol, chairman of Eteverse Group said. 

Write to Hyung-Chang Choi at calling@hankyung.com