Humax takes majority stake in gateway company MMC

Set-top vendor Humax is expanding its presence in the residential gateway market, with the acquisition of a 21.98% stake in MMC Technology.

Humax has acquired an additional 8% stake in the residential gateway provider, making it the majority shareholder. The set-top specialist said it would us the investment to advance its home gateway server technology, develop a next generation set-top box platform and expand the company’s business activities in the residential gateway market.

Humax and MMC Technology also plan to enter emerging market where demand for residential gateway products is increasing as internet penetration grows. Humax then plans to expand its business to the US, Latin America and other European markets. MMC Technology’s products have to-date focused on the Korean domestic market.

CEO of Humax, Dae-Gyu Byun, said, “For more than 15 years, MMC Technology has accumulated and established technological expertise in the residential gateway market. This advanced know-how will become leverage for us to find a new market for our home gateway server, which is the next-generation set-top box.”