SK Telecom will merge its security subsidiaries LSH and SK Infosec into one companies.
The newly formed company will inaugurate in the first quarter of 2021. After this, LSH’s wholly-owned subsidiary ADT Caps, will also be merged with the new company.
ADT Caps posted 913 billion won in sales last year. SK Infosec’s was 270 billion won.
Currently, SK Telecom owns a 55% stake in LSH and 45% is owned by Macquarie Group.
When the new company is formed in the next year, the stakes will change to SK Telecom’s 62.6% and Macquarie’s 37.4%.
The newly formed company will break the barrier between physical security and information security, SK Telecom said. The company will be valued at 5 trillion won in the next three years, the telco added.