12.26.16
G&D plans to invest in Solacia, an affiliate of Hansol Group, in order to move closer to major OEM customer and to strengthen the cooperation on new business fields such as IoT and Connected Cars. G&D will hold 16.29% of Solacia’s shares as a result of third-party paid-in capital increase (1.2 million shares).
Korea is a leading global economy with more than 50 million inhabitants and headquarters of international high-tech companies such as Samsung and LG. Korean companies are highly innovative in building up a connected society where smart devices and connected services are already today part of the daily life.
“Korea is a very attractive market for G&D,” said Stefan Auerbach, group executive Mobile Security at G&D. “With the strategic investment in Solacia, G&D improves its access to the Korean telecommunications, mobile OEMs and customers for cyber security solutions.”
As part of the agreement Solacia will become distributor for G&D products and solutions in the Korean market. Solacia plans to supply G&D’s eSIM offerings to domestic telecom operators and IoT manufacturers. Smart device use cases (e.g. for wearables and smart home) are expected to lead the way.
Deal closing is expected for first quarter of 2017, subject to anti-trust approvals.
Korea is a leading global economy with more than 50 million inhabitants and headquarters of international high-tech companies such as Samsung and LG. Korean companies are highly innovative in building up a connected society where smart devices and connected services are already today part of the daily life.
“Korea is a very attractive market for G&D,” said Stefan Auerbach, group executive Mobile Security at G&D. “With the strategic investment in Solacia, G&D improves its access to the Korean telecommunications, mobile OEMs and customers for cyber security solutions.”
As part of the agreement Solacia will become distributor for G&D products and solutions in the Korean market. Solacia plans to supply G&D’s eSIM offerings to domestic telecom operators and IoT manufacturers. Smart device use cases (e.g. for wearables and smart home) are expected to lead the way.
Deal closing is expected for first quarter of 2017, subject to anti-trust approvals.