LG Uplus, a South Korean telecommunications company, said on August 4 that it had acquired Pgo Networks, a South Korea-based managed detection and response (MDR) provider.

The acquisition, LG Uplus’ first in about seven years, is intended to strengthen its security capabilities and expand cybersecurity services for enterprise customers.

The companies did not disclose the purchase price.

Founded in 2017, Pago serves customers in the financial services, manufacturing, and information technology (IT) sectors. The company has also expanded into seven Southeast Asian countries.

In addition to MDR, Pago offers endpoint protection, extended detection and response (XDR), and dark web monitoring.

The acquisition adds MDR to LG Uplus’ enterprise security offerings, which include AlphaKey, its post-quantum cryptography authentication product, and U+SASE, its cloud-based security service.

The move comes as South Korea’s cybersecurity market is forecast to grow at a 12.18% annual rate through 2031, with managed security services the fastest-growing segment.

Rival telecom operators are also strengthening cyber defences after recent breaches.

🔗 Source: Chosun Daily