[THE INVESTOR] SK Telecom said on Feb. 26 it is acquiring a controlling stake in ID Quantique, the world’s No. 1 quantum-safe cryptography solutions provider based in Switzerland for about 70 billion won (US$65 million).
Quantum cryptography crypts transmitted data using special quantum keys that are impossible to intercept or steal. IDQ, established in 2001, launched the world’s smallest Quantum Random Number Generator that creates a random number that can be used as the key to protect sensitive data.
In 2017, SK Telecom was the first Korean firm to launched the device. The firm has continued investing in the technology to be used for the upcoming 5G wireless networks.
“In the 5G era where everything in the real world is connected wirelessly, the issue of safety will continue to rise,” said SK Telecom CEO Park Jung-ho. “We will continue our utmost efforts to provide our customers with the world’s safest 5G technology.”
“Quantum communications technologies will play a significant role in securing our data and communications, both in backbone networks and at the edge, in an era where the quantum computer will render vulnerable much of today’s cryptography,” added Dr Grégoire Ribordy, CEO and co-Founder of IDQ. “Partnering with SK Telecom will allow us to accelerate development of leading-edge solutions to meet these market needs.”
By Lee Ji-yoon (firstname.lastname@example.org)