G&D to invest in Solacia

06/01/17

G&D has announced plans to invest in South Korean firm Solacia, an affiliate of Hansol Group, in order to move closer to major OEM customers and to strengthen cooperation in innovative 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 very attractive market for G&D,” says Stefan Auerbach, group executive, Mobile Security at G&D. “The partnership is an essential success factor to strengthen G&D’s local presence. With the strategic investment in Solacia, G&D will improve its access to Korean telecommunications, mobile OEMs and customers for cyber security solutions.”

As part of the agreement Solacia will become a distributor for G&D products and solutions in the South Korean market. Solacia plans to supply G&D’s eSIM products to domestic telecoms operators and IoT manufacturers.

“We have secured next-tier USIM, especially embedded SIM (eSIM) products and related technology, through a strategic alliance through G&D, and also plan to supply eSIM to domestic telecoms operators and IoT manufacturers in the next big steps,” says Sang-Jin Park, CEO of Solacia. “In addition, Solacia will market G&D’s cyber security offerings such as Secure Industrial Visibility to Korean companies to secure manufacturing and production processes.”

G&D and Solacia will also pool their development resources and expertise to create attractive mobile communications, security and connectivity solutions for the South Korean market.

Deal closing is expected for the first quarter of 2017, subject to anti-trust approvals.

 

 

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G&D to invest in Solacia
G&D to invest in Solacia

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