God of Corporate Hunting - Chapter 273



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◈ Episode 273 Artificial Intelligence (3)

Austin, who was laughing, became worried.

“Can OAI come into the AMZ office tomorrow?”

“There’s no reason not to come in. If AMZ refuses, we can meet separately or hold a meeting in a place where the general public can enter, like here. We’re in the lead right now. Not AMZ.”

Nam Yun-myeong’s basic confidence in looking at this problem was revealed.

It is not necessary to associate with AMZ.

OAI and GG can also provide the necessary AI technology, including the cloud, just like AMZ. If AMZ gets rid of the idea that they are the only ones who can do it, negotiations will proceed normally.

In the worst case scenario, the Korea Future Research Institute can continue to develop the technology on its own as it has done so far. There is no reason for the company to be evaluated in the current unfavorable situation.

* * *

When I got back to the hotel, Yoon Se-bin’s cell phone rang.

“This is Yoon Se-bin.”

Nam Yun-myeong listened to her phone call quietly from the side.

“……Yes, you are the co-CEO of CSK.”

It seemed like the call was from someone I didn’t know.

“Oh! The email content is true. We are planning to have a final negotiation with AMZ tomorrow.”

Just as Seo Jun-kyung received a call from OAAI, Yoon Se-bin received a call from GG.

It was as Nam Woon-myung had intended. If the negotiation channels are diversified to include OAAI and GG rather than the single AMZ channel, the value is bound to increase.

“……Of course, we welcome you to attend. We hope you will come with meaningful suggestions.”

After hanging up the phone, Yoon Se-bin said.

“GG contacted me. There’s more interest than I expected.”

“That’s because AI development is a major concern for Big Tech. Right now, it’s almost a matter of life and death. We may be inferior to them in overall capabilities, but we are far ahead in specific AI areas. It’s not something they can ignore.”

“An excellent company has come up for sale on the market…….”

“Yes. Whether it’s AMZ or GG, there’s a history of growth through M&A. I think this is another opportunity.”

“Are you going to sell it to them?”

“Absolutely not. However, it is certain that we need to receive their investment in order to re-establish the value of the Korea Future Research Institute. To be honest, AI development is a war of money. If you don’t have enough development funds, it is a battlefield where you can never win. The Korea Future Research Institute’s independent capabilities are limited. That is why it is beneficial to ally with the strong.”

Yun Se-bin also agreed with Nam Woon-myung’s explanation.

Unlike other venture companies in which they have invested so far, in the case of the Korea Future Research Institute, they are in a position to receive investment.

The goal is to secure as much investment as possible and maintain a cooperative relationship while maintaining a 50% stake.

“Whew, tomorrow will be a battlefield anyway. If those two companies are going to attend.”

“Yes, it is not disadvantageous to us. The more they compete, the better. We should take advantage of this situation.”

The two developed a detailed strategy.

We have been able to successfully overcome difficult situations in the past, and this time is no different.

They will also be the winners of tomorrow.

Since we shared the same room, it was definitely more comfortable to work.

* * *

The next day, Nam Woon-myeong and his party visited the AMZ conference room again.

The negotiating partners were the same as yesterday: AMZWS CEO Eric Burzynski and his staff.

Unlike the flustered look he had on his face at the end, today he returned to a relaxed expression.

“Did you sleep well?”

Burzynski gave a polite greeting.

“I couldn’t sleep because I was worried.”

Nam Woon-myung answered honestly. Of course, it was not honesty, but the answer they wanted.

Burzynski smiled and took the words.

“I expected you to do that. If a large sum of money suddenly appears in front of you and your heart doesn’t race, you’re not human.”

They are considered complete idiots. It means that they are seen as venture capitalists who have just established a company and are receiving investment.

Although it has grown in size by acquiring CSK, to them, the Korea Asset Management Consortium is still a young company with only about two years of experience. And it is not on a big stage like the US or EU, but in a small country in the East. The company is also small in size.

I think they said there were 400,000 employees working at AMZ.

“So, after thinking about it, what do you think?”

Burzynski was the first to use the exploratory maneuver.

Nam Woon-myeong looked back at Yun Se-bin with a smile.

Yoon Se-bin spoke instead.

“AMZ’s offer of $1 billion is absolutely unacceptable. For that amount, you should look elsewhere.”

Burzynski smiled as if he had expected the answer.

“We had another meeting last night and analyzed it. We were a little bit too harsh in our valuation. So we reflected on it.”

“Oh, really? What was the conclusion?”

“We have significantly increased the offer from $1 billion. This offer is our last line of defense. So please think carefully before you give us your answer.”

“How much is it?”

“Let’s do it for $10 billion. Let’s hand over the Korea Future Research Institute to AMZ for $10 billion. What do you think?”

That’s 10 times more!

Yesterday, they said they would exchange some of the shares for stocks, but today they are proposing to buy the whole thing. They valued the company at $10 billion, so it is essentially the same as OAI’s proposal.

Of course, it falls far short of the value that Nam Woon-myung expected. Could it be the result of information warfare?

Yun Se-bin made an embarrassed expression and Nam Woon-myung also shook his head.

“We have no intention of selling all of our shares.”

“Isn’t the Korea Asset Management Consortium a private equity fund anyway? Its main purpose is to grow the company and sell it. If it’s $10 billion, isn’t that almost 100 times the initial investment?”

Still, AMZ made the same mistake again. If the negotiating representative sitting here had been a technologist rather than a private equity firm, there would have been a different offer.

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Seo Jun-kyung and Austin also shook their heads and said.

“We must keep 50% of the shares. If we hand over all of them, the Korea Future Research Institute will be reduced to a division of AMZ.”

Selling the Korea Future Research Institute to Seo Jun-kyung and Austin would be the worst thing ever.

Nam Yun-myeong took control of the situation and made another proposal.

“Did you hear? I said I have to keep 50% of the shares.”

“Hmm, fine. I’ll buy a 50% stake for $5 billion. Of course, as I said yesterday, it also includes the condition that you can use the related infrastructure, including AMZ’s cloud, for free. What do you think?”

The company’s value is still pegged at $10 billion.

A fierce fight ensued for a while.

A 50% stake has been agreed upon, but the price negotiations are just beginning. Frankly, there is no reason to sell the stake to AMZ for $5 billion.

AMZ was a master negotiator. They didn’t give in as if they had the upper hand.

When the negotiations were starting to get boring, there was a knock on the door and an AMZ employee came in.

“I came from OAI.”

This is the news that Nam Yun-myeong has been waiting for.

Burzynski frowned.

“There aren’t any reservations at OAAI today, right?”

“But they are being unreasonable. They are demanding that they also participate in these negotiations.”

“Whew, I guess it’s because of the email they sent yesterday. Just reject it for now.”

Burzynski glared at Namunmyeong with a disapproving look and gave instructions.

Nam Woon-myung shouted before the staff stepped back.

“Just a moment! Should I call you and negotiate with you?”

Burzynski glared at him as if to ask what he was talking about.

“It’s difficult to attract other companies to this location…….”

“If this is inconvenient, we can negotiate at the coffee shop below.”

“Ugh! It is against convention to involve a third party in a negotiation between just two parties.”

Burzynski groaned and complained.

Nam Yun-myeong answered confidently.

“We told you that we would be valued in the open market, right? That’s why we’re calling you. If you’re really uncomfortable… we’ll meet with OAAI first and then negotiate with AMZ later.”

This is an offer that AMZ absolutely cannot afford to compromise on.

Burzynski had no choice but to give instructions again.

“Tell them to come in.”

After a while, two people came from Oieai. Nam Woon-myung and Yoon Se-bin were people I was seeing for the first time, but Seo Jun-kyung and Austin were familiar.

He said he was the CFO of OAAI. A truly big shot has emerged.

Unlike Burzynski, whose face was distorted, OAI’s CFO smiled brightly and shook hands with Nam Woon-myung and Yoon Se-bin.

“You should have made that suggestion to us at OAAI first, not to AMZ.”

Negotiations began with AMZ’s words that turned the tide of the battle.

“AMZ first proposed it to us. We haven’t decided yet whether to invest or not.”

Nam Yun-myeong took the initiative with a leisurely answer.

The OAI CFO, who confirmed Burzynski’s reaction, said with a smile.

“I see. First, as we told you over the phone, we estimated the value of the Korea Future Research Institute at 10 billion dollars…”

“Just like us. We also offered 10 billion dollars.”

Burzynski chimed in, laughing.

OAI’s CFO dismissed Burzynski’s comments and then corrected himself.

“We are starting negotiations at $10 billion.”

Burzynski’s face darkened again at the announcement that he could invest more.

Now it is time for Nam Woon-myung to offer a reasonable price again.

Nam Woon-myung wasted time and did not give an answer. There were still people who needed to come to this position.

After a while the door opened and a new person came in.

Likewise, except for Nam Woon-myeong and Yun Se-bin, all of them were familiar faces. They were famous people in this field.

“This is GG Mind Vice President.”

Naturally, the heads of the three big tech companies leading the development of AI gathered in one place.

Burzynski’s complexion darkened further and a strange tension settled over the conference room.

These three companies are competitors, so they are watching each other closely.

It was time for Nam Yun-myeong to take the initiative and lead the meeting.

“AMZ offered $10 billion, and OAIS said it would start negotiations at $10 billion.”

GG Mind Vice President quickly changed his stance with a bright smile.

“GG Mind values ​​the Korea Future Research Institute at $20 billion. We can pay $10 billion for a 50% stake.”

The negotiated price doubled in an instant. As expected, a company that hoards money in the barn is a big shot.

Burzynski and OAI’s CFO shook their heads as if it wasn’t easy.

Nam Yun-myeong spoke slowly with a smile.

“You still don’t really understand the value of the Korea Future Research Institute. While you are focusing on conversational search engines, the Korea Future Research Institute is working on specialized AI in each field. It would take a lot of learning time and money to handle that problem with general AI. The reason why this is possible is because of our technological prowess. Of course, I understand your situation. We cannot afford to lose the leadership in the existing search market. However, a much larger market is being formed in the industry.”

Nam Woon-myung’s explanation is that the Korea Future Research Institute will not compete with existing AI big tech companies, but will focus on developing new markets.

“The biggest advantage is that it can generate profits right away. In terms of manufacturing, it’s like the stage just before mass production.”

“So, how much do you value the company?”

Three people, including Burzynski, asked at the same time.

“Sixty billion dollars!”

The conference room was plunged into silence after Nam Un-myeong’s declaration.

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