SK Telecom recently announced that its subsidiaries SK Infosec and Life and Security Holdings (LSH), the parent company of ADT Caps, each held a board of directors meeting and approved the merger.
SK Infosec and LSH will merge within this year, and then merge ADT Caps within the first quarter of 2021 to complete the process.
ADT Caps is the second largest physical security company in Korea with 700,000 subscribers. Its main business areas include unmanned security, unmanned parking and access control. It reported KRW 913 billion in revenue in 2019.
SK Infosec is the leading information security company in Korea with a revenue of KRW 270 billion in 2019. It offers information security consulting services, cybersecurity monitoring/control services and system integration.
SKT says that it aims to grow the merged entity into No.1 convergence security company in Korea worth KRW 5 trillion within three years of its launch by leveraging the advanced physical and information security technologies of ADT Caps and SK Infosec.
The specialized security company will introduce a whole new level of convergence security services by combining SKT’s ICT including 5G and artificial intelligence (AI), SK Infosec’s information security platform and ADT Caps’ state-of-the-art security monitoring/control system and dispatch security service assets.
Park Jung-ho, President and CEO of SKT
Through the merger of SK Infosec and ADT Caps, we will lead the future convergence security industry by developing innovative security services and platforms, and accelerate our growth as a global ICT company.
