WooriNet , a wired and wireless communications equipment specialist, has completed its first merger and acquisition (M&A) of 2025, acquiring defense specialist Icestorm. Through this acquisition, WooriNet plans to strengthen its communications technology capabilities in the defense sector and expand its foundation for future growth.
WooriNet announced on the 21st through a public notice that it had acquired 62% (248,000 shares) of Ice Storm's common stock and paid the full acquisition price, completing the process of incorporating it into a subsidiary.
WooriNet explained, “This is a strategic decision made after comprehensively considering factors such as expansion in the defense sector, synergy between businesses, and profitability,” and “to diversify our communications portfolio and achieve sustainable growth.”
Founded in 2007, IceStorm possesses technological expertise in high-speed signal processing hardware, tactical and maritime communications equipment based on RF SoC integration technology, anti-jamming technology, and special-purpose radar. As of 2024, the company recorded sales of KRW 11.3 billion and operating profit of KRW 2.4 billion.
This M&A is consistent with WooriNet's existing growth strategy. WooriNet is currently expanding the development and supply of quantum cryptography-based equipment (QENC, QKD, QKMS, etc.) and is also working on projects such as the construction of the National Defense Broadband Integrated Network, the national basic communications network, and corporate networks.
In addition, the company recently completed the joint construction of Packet Transport Network (PTN) encryption transmission equipment for Korea Electric Power Technology's communication network together with SK Broadband, and its QENC equipment was the first in Korea to receive a security function certification from the Telecommunications Technology Association (TTA).
WooriNet plans to enhance its competitiveness in the defense and public sectors through technological and business synergies with IceStorm in the future, and to continuously expand its next-generation technology-based businesses, such as quantum communications.
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