SGA Solutions (CEO Young-cheol Choi), an integrated IT security specialist, announced on the 21st that it will absorb and merge with its system access control subsidiary, SGN (CEO Hyun-mo Kang). Through this merger, SGA Solutions plans to accelerate business expansion by improving management efficiency and advancing zero trust technology.
This merger will be conducted in the form of a small merger, and the merger ratio will be 1 to 16.6392573. As a result of the merger, SGA Solutions will issue 635,852 new shares. The merger date is October 1.
The merger partner, 'SGN', is a company specializing in system access control solutions, providing security solutions that control user rights for servers and major systems and manage history. SGN was incorporated as a subsidiary in 2022 when SGA Solutions acquired a 77.9% stake.
Launched in 2002, SGA Solutions is an integrated security company that operates security businesses such as ▲server security ▲endpoint security ▲cloud security ▲zero trust security. Its representative solutions include the server security solution 'RedCastle', the cloud security solution 'Aegis', and Korea's only full-stack zero trust solution 'SGA ZTA'. SGA Solutions was listed on KOSDAQ in 2015, and has proven its expertise in zero trust by being selected as the host company for the 'Zero Trust Project' hosted by the Ministry of Science and ICT and the Korea Internet & Security Agency for three consecutive years. Its current subsidiaries include 'SGN', a system access control specialist, 'Voice Eye', a 2D high-density barcode specialist, 'SGAEPS', an endpoint security solution specialist, and 'Funble', a real estate token securities company.
Through this merger and acquisition, SGA Solutions plans to secure technological capabilities in system access control and further strengthen its zero-trust competitiveness, which is gaining momentum in Korea. In particular, by integrating SGN’s solutions, such as user account identification and access control and system access control, it will have a system that can enhance zero-trust security on a regular basis.
SGA Solutions CEO Young-cheol Choi said, “The merger with SGN is a strategic decision to secure leading integrated security capabilities by proactively responding to rapidly changing new security paradigms such as N2SF, autonomous security systems, and zero trust.” He added, “Through this merger, we will have a system that encompasses the entire zero trust security cycle, and we will support the provision of safer and more reliable security to our customers.”
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