LG CNS, General Atlantic in Joint Investment to Expand Global Enterprise SW
TECHWORLD ·
✦ AI Summary
LG CNS announced on the 1st that it has signed a joint investment partnership with General Atlantic.
The two companies will jointly identify enterprise SW and AI companies that support core operations on the front lines of manufacturing, finance, logistics, and energy industries, and will jointly review investment opportunities.
LG CNS aims to extend the collaboration beyond the investment stage into business expansion, with North America selected as the initial target market.
LG CNS announced on the 1st that it has signed a joint investment partnership with General Atlantic. The partnership aims to identify global enterprise software (SW) and AI companies.
The two companies signed the agreement on the 24th at General Atlantic's headquarters in New York, the United States, local time. The signing was attended by LG CNS President Hyun Shin-kyun, Martin Escobari, co-president and global head of growth equity at General Atlantic, and key executives from both companies.
Under the agreement, the two companies will jointly identify enterprise SW and AI companies that support core operations on the front lines of manufacturing, finance, logistics, and energy industries, and will jointly review investment opportunities. Specific investment sizes and terms will be disclosed on a case-by-case basis when target companies are finalized.
General Atlantic is a global investment firm with about USD 130 billion in assets under management as of the end of June. It operates in 20 countries worldwide, including its headquarters in New York. It also has more than 45 years of experience in investing in technology companies and enhancing corporate value.
LG CNS plans to expand the share of its enterprise SW business through this collaboration. While pursuing its existing IT service and AX businesses in parallel, it will also pursue securing SW assets with IP. In addition, it plans to strengthen recurring revenue based on licenses and subscriptions, and link the technology and customer base it secures with its existing IT service and AX businesses.
LG CNS believes that the importance of enterprise SW is growing as agentic AI becomes more widespread. It sees a need for integration with core operational and data management systems for AI to understand corporate work and make judgments and execute directly. It also sees a need for integration with enterprise SW that meets security and regulatory requirements for AI to understand corporate work and make judgments and execute directly.
LG CNS plans to take its cooperation with General Atlantic beyond the investment stage and into business expansion. To that end, LG CNS has decided to combine General Atlantic's global investment network with its own AX execution capabilities, and North America has been selected as the initial target market. It then plans to expand customer touchpoints to Asia-Pacific in the future.
Hyun Shin-kyun, CEO of LG CNS, said that as AI is rapidly changing how companies work, it is necessary to preemptively secure enterprise SW that handles core operations and data. He said that securing enterprise SW will lay the foundation for future growth, and that the goal is to pursue securing core business foundations with General Atlantic and create new customer value by combining those foundations with LG CNS's AX capabilities.
Source: TECHWORLD · Kim Seung-gi
Original: https://www.epnc.co.kr/news/articleView.html?idxno=407626
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Source: TECHWORLD
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