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Upstage and Kakao reach an agreement to acquire Korea's second-largest search engine, Daum
South Korean artificial intelligence startup Upstage announced on Thursday that it has officially signed an agreement with internet giant Kakao to acquire Korea’s second-largest search engine, Daum. According to the agreement, Upstage will acquire all shares of Daum operator AXZ Corp. held by Kakao, while Kakao will receive new shares in Upstage. Neither party disclosed the specific financial terms of the agreement. (Sina Finance)