SK Telecom to acquire security firm SK Infosec

SEOUL, Oct. 26 (Yonhap) — South Korea’s top mobile carrier, SK Telecom Co., said Friday that it will wholly purchase SK Infosec, a security solution provider under SK Group, as part of its efforts to beef up its security business.

Under a deal set to be concluded on Dec. 27, SK Telecom will acquire a 100 percent stake in SK Infosec.

The deal will result in SK Holdings Co. — the holding firm of SK Group — owning an additional 1.6 percent stake in SK Telecom, boosting its total stake in the mobile carrier to 26.8 percent, according to SK Telecom.

SK Infosec is the country’s largest provider of security monitoring and consulting services for businesses with annual sales over 200 billion won (US$175 million).

When the deal is completed, SK Telecom will have two leading securities affiliates under its arm, as it already holds a 55-percent controlling stake in ADT Caps Co., South Korea’s No. 2 physical security service provider.

Earlier this month, SK Telecom completed the purchase of ADS Caps in a joint investment with Australia-based Macquarie Group. ADT Caps has some 570,000 clients and is focused on maintaining and protecting various facilities, businesses and homes.

SK Telecom said the company’s long-term plan is to eventually build an integrated service platform ranging from physical security to information security.

The logo of SK Telecom Co. (Yonhap)