LG CNS partners with General Atlantic to invest in enterprise tech firms
LG CNS has partnered with U.S. investment firm General Atlantic to co-invest in global enterprise technology firms, the IT services unit of Korea's LG Group said Thursday. Enterprise technology refers to business software and artificial intelligence (AI) that support core operations in industries such as manufacturing, finance, logistics and energy. The two sides signed the agreement Sept. 24 at…
The IT services subsidiary of South Korea's LG Group, LG CNS, has entered into a strategic partnership with U.S. investment firm General Atlantic to jointly invest in enterprise technology companies worldwide. Enterprise technology encompasses business software and artificial intelligence (AI) solutions that facilitate core operations across various industries, including manufacturing, finance, logistics, and energy.
The partnership agreement was signed on September 24 at General Atlantic's headquarters in New York. At the signing ceremony, Hyun Shin-Gyoon, the President and CEO of LG CNS, and Martin Escobari, General Atlantic's co-president and head of global growth equity, were present. The collaboration aims to identify and consider investing in enterprise software and AI companies.
Details regarding the size and terms of each investment will only be disclosed once a target company is selected. As of June 30, General Atlantic manages $130 billion in assets across 20 countries, employing over 900 people. The firm has over four and a half decades of experience investing in technology companies. LG CNS intends to leverage this partnership to broaden its scope beyond information technology services and AI transformation.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
