LG to Acquire Vehicle Cybersecurity Firm Cybellum


LG said it will initially acquire a 64-percent stake in Cybellum for $140 million and it will acquire the remaining shares in the near future — if the valuation does not change, the remaining shares will be worth nearly $80 million.

The Korean tech giant also plans on investing $20 million in the cybersecurity firm through a simple agreement for future equity (SAFE) after the trading process has been completed in the fourth quarter.

Cybellum provides vehicle cybersecurity risk assessment solutions, and the company claims to be working with vehicle manufacturers and suppliers around the world.