LG Electronics is taking over an Israeli firm with expertise in cybersecurity for automobiles as part of its plan to strengthen its auto parts business portfolio.
The deal allows LG to assume an approximate 64% stake in the tech company valued at US$140 million, a strategic move that will enhance LG’s cybersecurity capabilities and accelerate its efforts to become an ‘Innovation Partner for Future Mobility’.
“This latest deal will further strengthen LG’s solid foundation in cybersecurity, enabling us to be even more prepared for the era of connected cars,” said Kim Jin-yong, president of the LG Electronics’ vehicle component solution division.
