Hansol Invests in Omnipoint
Hansol was a spin-off from Samsung, and led by a member of the founding family. It was a leading South Korean company in paper and other basic industries, but wanted to expand into high-growth industries like electronics and telecom. It sought help to obtain advanced technologies in the U.S. and engaged MSG.
MSG and Hansol together developed criteria to select a U.S. Strategic Partner. MSG’s research and industry knowledge led it to recommend three companies with advanced wireless technology that appeared to meet the selected criteria. Discussions with all three ensued and a deal for capital investment, an exclusive license to the technology in Korea, and a plan for joint product development was made with Omnipoint of New York.
The deal for Omnipoint’s spread-spectrum digital technology to be put on Samsung chips helped Hansol become a leading South Korean wireless company, and one of the country’s leading conglomerates. It also accelerated Hansol’s diversification into fast-growing modern technologies. Omnipoint was later consolidated to form T-Mobile, and Hansol financially profited from the investment.