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…
Korea's LG CNS has formed a strategic partnership with General Atlantic, a prominent U.S. investment firm, to jointly invest in enterprise technology companies worldwide. Enterprise technology encompasses business software and artificial intelligence solutions that facilitate core operations in sectors like manufacturing, finance, logistics, and energy.
On September 24, LG CNS President and CEO Hyun Shin-Gyoon and General Atlantic co-president and head of global growth equity Martin Escobari signed the agreement at General Atlantic's New York headquarters.
Under the terms of the collaboration, the two organizations will identify and evaluate investment opportunities in enterprise software and AI firms. LG CNS has not disclosed the specific size or terms of each prospective investment until a target company is selected. General Atlantic oversees a $130 billion asset portfolio as of June 30, employing over 900 individuals across 20 countries.
With more than four decades of experience in investing in technology companies, the firm aims to broaden LG CNS's presence beyond its IT services and AI transformation offerings.
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.
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