LG Electronics has announced the acquisition of the majority stake in Cybellum. The Israeli company specializes in cybersecurity applied to the automotive sector. With this acquisition, the Korean giant confirms its desire to expand its presence in the automotive sector, increasingly linked to the technological world. The operation, according to what was announced in these hours, will be completed by the end of the year.
LG acquired the majority stake in Cybellum
The new generation of cars will be increasingly connected and technological. LG Electronics, the Korean giant and reference point in the tech world, has therefore chosen to invest in this sector with the acquisition of Cybellum. Today, the company announced theacquisition of 64% of Cybellum, an Israeli company specializing in cybersecurity applied to the automotive sector. The company is valued at $ 240 million.
The Korean giant focuses on the automotive sector
The acquisition of Cybellum confirms LG Electronics’ willingness to focus on the automotive sector, providing targeted services to various manufacturers. The plans of the Korean company are not yet known but the operation represents a clear confirmation of LG’s desire to expand its business also in a sector, such as the automotive one, which in the future will be increasingly linked to the tech world. main action of LG. More details on LG’s goals will certainly come in the near future. The acquisition of the majority stake in Cybellum will close by the end of the year.