À̹ÌÁö È®´ë South Korea¡¯s Military Mutual Aid Association, one of the country¡¯s major institutional investors, is backing the consortium of SK Telecom and Macquarie Group in $3 billion acquisition of top security solutions company ADT Caps.
The fund will chip in more than 100 billion won ($90 million), and other public institutional investors like the Korea Teachers¡¯ Credit Union and Public Official Benefit Association are expected to follow suit for a share in the lucrative deal, IB sources said.
Market experts expect that SK Telecom¡¯s acquisition of ADT Caps, a major security solution provider in the country, should create a huge synergy effect, as the nation¡¯s top telecommunication company would be able to provide new security services by combining its technology in artificial intelligence (AI) and Internet of Things (IoT) and ADT¡¯s expertise in security solution.
The IB industry estimate the military association can reap an annual 5 percent return from its share in the company. The Military Mutual Aid Association could also profit when ADT Caps goes public.
Last month, a consortium of SK Telecom and Australia-based financial firm Macquarie decided to take over ADT Caps for around 3 trillion won ($2.8 billion) from U.S.-based private equity fund Carlyle Group, with SKT holding a 55 percent stake in the security firm and Macquarie the remaining 45 percent.
By Jung Hee-young and Choi Mira
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