Foxconn has acquired a 4.9% stake in SK C&C Co. for a total of 381 billion won (US$376 million; US$1=1013.17 won) as part of its recent efforts to broaden beyond contract manufacturing business, reported Taiwan's Central News Agency on June 30. The transaction has made Foxconn the second largest shareholder of the Korean company, which provides ICT solutions including e-commerce platforms, energy management systems, cloud computing services, and automotive platforms. The deal is reportedly to speed up Foxconn's deployment in cloud computing and e-commerce platforms, and to gain access to SK Telecom, which will be helpful for Foxconn in developing a comprehensive ICT ecosystem including cloud services, big data analysis, and e-commerce payment.