Korean giant LG makes first Israeli acquisition: Vehicle cyber co Cybellum
Categories: Corporate and M&A
Korean giant LG has made its first acquisition in Israel, buying 64% of cybersecurity for vehicles company Cybellum Technologies for USD 140 million.
The deal values Cybellum at USD 220 million.
The investors are selling their shares, but the entrepreneurs and employees are retaining the remaining 36%. In addition, LG is investing a further USD 20 million in Cybellum in its largest fund-raising round so far, which will enable it to double in size.
Kim & Chang of Korea and Gornitzky & Co. collaborated on the project with the Gornitzky team comprising Yoni Raff, Netanel Kahane and Josh Cohn on the Corporate-M&A front; Tax – Dr. Assaf Prussak, Yarin Yom-Tov andAlon Cohen; Labor – Sagi Padureanu; Privacy – Assaf Harel and Rebecca (Rivka) Genis.
