SGA Solutions Acquires System Access Control Company SGN

[Asia Economy Reporter Hyungsoo Park] Integrated security specialist SGA Solutions announced on the 23rd that it will acquire shares and management rights of system access control solution company SGN.

Founded in 2009, SGN supplies system security products such as the system access control solution 'SecureGuard AM', password management solution 'SecureGuard PM', and account management solution 'Secure IM'. It is one of Korea's leading IT information security companies with over 800 clients including major public institutions, financial, and corporate sectors. To respond to rapidly growing market demand such as the full transition of public institution cloud systems, it is accelerating market penetration by expanding cloud-based security service business.

Through the acquisition, SGA Solutions will combine its core server security with SGN's system access control to provide Korea's only integrated system security technology. It plans to expand next-generation security business by securing solutions for next-generation cloud system security markets. It also expects to generate organic sales synergy effects through over 100 business partners nationwide secured by SGN. The company aims to further strengthen its business competitiveness. From an R&D synergy perspective, the strategy is to secure core zero-trust based technologies emerging as security issues due to increased remote work in the untact era, thereby securing future business opportunities through next-generation product development.

SGN, which achieved 9 billion KRW in sales last year, expects improved performance this year due to business restructuring for profitability enhancement and increased sales of new products. Additionally, it plans to expand market presence through active cooperation with SGA Group affiliates such as SGA, which is aggressively targeting the large-scale public IT market based on the 4th generation NEIS (National Education Information System) education informatization competitiveness, and VoiceEye, which is expanding application business based on 2D barcode voice conversion for information-disadvantaged groups. Since this will be reflected in SGA Solutions' consolidated financial statements, the company's performance growth is expected to accelerate further.

SGA Solutions CEO Youngchul Choi explained, "We have established an ‘integrated security’ system capable of proactively responding to the rapidly changing ICT environment by developing proprietary security technologies over a long period and securing comprehensive security source technologies and products through M&A."

He added, "We will grow aiming to become Korea's number one integrated security company, turning this into an opportunity to break through stagnant growth."

On the 20th, SGA Solutions announced through a public disclosure a paid-in capital increase plan worth 7 billion KRW through its largest shareholder SGA.

This content was produced with the assistance of AI translation services.