April 24, 2024

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[THE INVESTOR] Korea’s digital imagery solutions provider Vision Holdings, formerly known as Seoul Vision, has undergone restructuring, according to Orchestra Private Equity on Jan. 17.

The firm, which owns a 93 percent stake in the holding company, named former Cheil Worldwide executive Daniel Rhee to lead Vision as a part of the reshuffling.

Vision Holdings CEO Daniel Rhee Orchestra PE

The move came nearly a year after Orchestra acquired controlling stake for 58.7 billion won (US$52.26 million) in March 2018. Vision Holdings, a media post production and digital imagery solutions service provider, was valued at roughly 42 billion won at the time.

Vision Holdings has five wholly owned subsidiaries under its wing, including Seoul Vision’s spin-off Vision Commercial and Vision CG, as well as a startup devoted to virtual reality technology called Two Tokki that Orchestra purchased through a stock-purchase deal in August. Two Tokki is to be rebranded as Vision VR. The holding firm will also operate overseas units in Shanghai and Tokyo.

Orchestra has offices in Seoul, Tokyo and Hong Kong. It ran two buyout funds. One acquired a golf equipment distributor Maruman Golf, later rebranded as Majesty Golf Korea, in July.

By Son Ji-hyoung (consnow@heraldcorp.com)