Directors Company, a South Korean advertising and branding company, announced Thursday that it has finalized the acquisition of Bitnine as part of its efforts to strengthen its generative AI business.

The acquisition of the Kosdaq-listed database technology company was completed through a third-party allotment capital increase on Nov. 29, making Directors Company its largest shareholder. Following the deal, Chief Financial Officer of Directors Company Jegal Wan was appointed managing director of Bitnine Monday to lead the company’s financial restructuring and new business development.

Bitnine specializes in AgensGraph, a hybrid database system that combines relational and graph database technologies. Directors Company said it plans to leverage this technology alongside its generative AI tools to develop data-driven advertising solutions and expand into e-commerce and digital marketing.

This move follows the November acquisition of Skaiworks, an AI advertising technology firm known for its capability to create photorealistic video advertisements without traditional filming.

"This merger transcends a mere technological alliance; it demonstrates the commercial viability of AI technologies,” Shin Jae-hyuk, CEO of Directors Company, said.

Jegal added, "Collaborating with Directors Company allows us to merge our data analytics expertise with generative AI, creating new value and offering differentiated solutions to our global customers."