By Lee Min-hyung
Samsung SDS has invested in two security industry startups as part of its corporate investment drive into emerging IT sectors, such as financial technology, the Internet of Things (IoT) and healthcare.
The company said Thursday it decided to invest in Darktrace, a U.K.-based cybersecurity startup, and Seoul-based blockchain platform operator Blocko. Samsung SDS did not reveal the investment value.
The move comes after the IT service affiliate of Samsung Group identified next-generation security solutions as a key growth area.
The company said the decision reflects its aggressive business diversification strategy, under which Samsung SDS has stressed partnerships with venture companies with expertise in cyber-related security systems.
In particular, the company is hastening its corporate drive to allocate more money to finding and investing in promising IT startups. In 1999, Samsung Group established Samsung Venture Investment, financed by four Samsung affiliates, in its bid to respond swiftly to the rapidly changing IT industry.
"The startup investment is part of Samsung's group-wide strategy, allowing us to find new revenue sources and build a symbiotic relationship with emerging start-ups," a Samsung SDS spokesman said.
He said it is the first time Samsung SDS has invested in IT startups. The move is expected to pave the way for more partnerships with other new, innovative companies, the spokesman said.
"We are going to expand our investment drive into other emerging sectors, including artificial intelligence (AI), big data-based analytics and other IoT-converged IT sectors," he said.
The startups move was made through the firm's technology investment fund, of which Samsung SDS owns 99 percent. The fund is co-managed by Samsung Venture Investment.
Darktrace focuses on identifying emerging online threats in real-time, such as ransomware and various machine-based cyberattacks.
Blocko offers a proprietary blockchain platform, allowing clients easily to adopt this emerging security system. Blockchain, also known as a key technology underpinning the digital currency Bitcoin, is used to create a shared database, allowing corporate users, mainly in the banking sector, to trace every transaction.
Samsung SDS has invested in two security industry startups as part of its corporate investment drive into emerging IT sectors, such as financial technology, the Internet of Things (IoT) and healthcare.
The company said Thursday it decided to invest in Darktrace, a U.K.-based cybersecurity startup, and Seoul-based blockchain platform operator Blocko. Samsung SDS did not reveal the investment value.
The move comes after the IT service affiliate of Samsung Group identified next-generation security solutions as a key growth area.
The company said the decision reflects its aggressive business diversification strategy, under which Samsung SDS has stressed partnerships with venture companies with expertise in cyber-related security systems.
In particular, the company is hastening its corporate drive to allocate more money to finding and investing in promising IT startups. In 1999, Samsung Group established Samsung Venture Investment, financed by four Samsung affiliates, in its bid to respond swiftly to the rapidly changing IT industry.
"The startup investment is part of Samsung's group-wide strategy, allowing us to find new revenue sources and build a symbiotic relationship with emerging start-ups," a Samsung SDS spokesman said.
He said it is the first time Samsung SDS has invested in IT startups. The move is expected to pave the way for more partnerships with other new, innovative companies, the spokesman said.
"We are going to expand our investment drive into other emerging sectors, including artificial intelligence (AI), big data-based analytics and other IoT-converged IT sectors," he said.
The startups move was made through the firm's technology investment fund, of which Samsung SDS owns 99 percent. The fund is co-managed by Samsung Venture Investment.
Darktrace focuses on identifying emerging online threats in real-time, such as ransomware and various machine-based cyberattacks.
Blocko offers a proprietary blockchain platform, allowing clients easily to adopt this emerging security system. Blockchain, also known as a key technology underpinning the digital currency Bitcoin, is used to create a shared database, allowing corporate users, mainly in the banking sector, to trace every transaction.
