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HomeFunding South Korea-Based AhnLab Secures USD133 Million in Funding

[Funding Alert] South Korea-Based AhnLab Secures USD133 Million in Funding

AhnLab’s CEO, Suk-Kyoon Kang, emphasized the joint venture’s goal of customizing AhnLab’s cybersecurity solutions to the unique requirements of the MENA region, especially in Saudi Arabia, in order to accelerate worldwide expansion.

Formation of a joint venture to develop cybersecurity technologies tailored for Saudi Arabia between a PIF technology subsidiary and AhnLab in South Korea.

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The Saudi Information Technology Company (Site) and its subsidiary, Site Ventures, have invested more than SAR500 million ($133 million) for research and development within the joint venture. Site Ventures’ strategic acquisition of a 10% share in it to support cooperative business initiatives and modify cybersecurity solutions to address changing market dynamics in Saudi Arabia and the MENA region.

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A Public Investment Fund (PIF) technology subsidiary is about to launch a joint venture with it in South Korea with the goal of promoting and integrating different cybersecurity solutions in Saudi Arabia. 

About AhnLab

AhnLab, Inc., the global cybersecurity company, delivers comprehensive protection for endpoints, networks, transactions, and essential services. It delivers best-of-breed threat prevention that scales easily for high-speed networks by combining cloud analysis with endpoint and server resources.

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