SOURCE: IndoorAtlas

July 21, 2015 20:00 ET

IndoorAtlas Signs a $3 Million Partnership With SK Planet to Expand the Boundaries of O2O Service in Korean Market

SEOUL, KOREA--(Marketwired - Jul 21, 2015) - SK Planet today announced that Sungwon Suh, COO of SK Planet, has signed a business partnership at the firm's HQ in Pangyo Technovalley with IndoorAtlas, the global leader in indoor positioning, to target the global O2O (Online 2 Offline) e-commerce market. In addition to signing a $3 million business partnership with IndoorAtlas, SK Planet joins onboard as a strategic investor.

"Indoor positioning will produce new value added to people's lives as most people spend the majority of their days indoor," said Sungwon Suh, COO at SK Planet. "Indoor positioning will be applied as the infrastructure technology of our current O2O service offerings and we will be able to offer enhanced shopping services for our customers," he added. 

Janne Haverinen, CEO and Founder of IndoorAtlas, said, "the cloud-based indoor positioning platform we developed at IndoorAtlas is the most scalable and accurate indoor positioning solution in the world and it's available worldwide." He added that, "we are very pleased to contribute to the success of SK Planet's O2O services."

SK Planet is using IndoorAtlas solution to enhance the user experience of its leading O2O service, 'Syrup.' Moreover, IndoorAtlas' technology can be applied to 'Syrup Guide', a complex shopping mall service that is planning to launch later this year.

IndoorAtlas is a start-up that was launched in 2012 by Professor Janne Haverinen and a group of computer engineers at Oulu University in Finland. Its leading edge magnetic indoor positioning technology enables bleeding edge indoor navigation solution within buildings. Consumers can see where they are indoors on a floor plan and discover what's nearby including track sales promotions. IndoorAtlas state of the art cloud-based technology enables indoor location-based services in areas where GPS does not work, by utilizing a smartphone sensor's recognition of magnetic distortions created by the building's steel structure.

SK Planet's business partnership and investment includes right to IndoorAtlas platform in the Korean market. The partnership with IndoorAtlas will strengthen the existing capabilities of SK Planet's O2O business which will further enhance Syrup's service capabilities and open up completely new use cases and user experiences for consumers.

IndoorAtlas' global platform does not require any separate infrastructure and it is capable of guiding customers all the way to the last meter which tremendously improves O2O e-commerce services, such as indoor navigation, indoor location-based mobile search, and location-based advertising worldwide. IndoorAtlas is actively expanding the business globally to the United States, Japan, and other Asian countries.

About IndoorAtlas (www.indooratlas.com):
Founded in 2012, IndoorAtlas is the global leader in indoor positioning. The company's positioning service serves over 270 million users globally. IndoorAtlas is transforming indoor positioning and advertising through patented technology that utilizes compass in smartphones to detect anomalies in the earth's magnetic field to pinpoint location with an accuracy of 1-2 meters, without any additional infrastructure such as beacons or routers. IndoorAtlas is headquartered in Palo Alto, California, and in Finland.

About SK Planet (www.skplanet.com):
SK planet, a wholly owned subsidiary of SK telecom, was established in October 1, 2011 with an aspiration to become a global platform innovator. As the lynchpin of SK telecom's future growth, the company was spun off with the industry-leading platform businesses including T store (mobile contents market), T map (mobile navigation), and Smart Wallet (mobile wallet service). The company also pioneers in next commerce, which integrates on/offline and mobile channels, with Syrup, Korea's first smart offering service and continues to expand its online commerce leadership to global market with 11th Street.

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