ID Quantique and SK Telecom join forces

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26.02.2018

ID Quantique (IDQ) announced today a strategic investment plan of US$ 65 million from SK Telecom, the South Korean telecom giant with 50 percent market share, over 20'900 employees and 30.16 million mo­bile subscribers. The investment is intended to develop IDQ’s quantum technologies for the telecom and IoT markets.

According to market research firm Market Research Media, the global quantum cryptography communications will grow into a US$ 24.75 billion industry by 2025. Macrotrends such as 5G and IoT will be major accelerators for IDQ’s quantum-safe and quantum sensing solutions in a world where exponential amounts of data will be exchanged.Thanks to the SK Telecom's investment of US$ 65 million, IDQ will strengthen its position as the global leader in quantum safe cryptography and quantum sensing solutions. The funds will also help IDQ to continue to develop global markets and partnerships.

IDQ has had a long term relationship with SK Telecom. In 2016 the company invested US$ 2 million in IDQ and in 2017 developed the world’s smallest (5x5mm) Quantum Random Number Generator based on technology and know-how licensed from IDQ.

As the first South Korean conglomerate to establish a quantum technology laboratory in 2011, SK Telecom has continuously invested in the development of quantum cryptography for wireless communications networks. As part of the transaction, SK Telecom’s quantum laboratory will become part of IDQ.

“In the 5G era where everything in the real world is connected wirelessly, the issue of safety will continue to rise,” said Park Jung-ho, CEO and President of SK Telecom. “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 Grégoire Ribordy, CEO and co-Founder of IDQ. “We are proud to work closely with SK Telecom. Partnering with them will allow us to accelerate development of leading-edge solutions to meet these market needs. Together we can enter new geographic and vertical markets and meet the increasing demands for security.”

ID Quantique and SK Telecom will, in parallel, collaborate in the field of Quantum Sensing in order to keep growing the company’s core quantum photonics technologies and provide the most innovative solutions for high potential industrial markets.

About SK Telecom
SK Telecom is the largest mobile operator in Korea by both revenue and number of sub­scribers. As of September 2017, the company holds around 50 percent of the market, with 30.16 million mobile subscribers including 22.57 million LTE subscribers.  It has reached KRW 17.092 trillion in revenue in 2016. SK Telecom has led the advancement of mobile technologies ranging from 2G to 4G, and is currently setting important milestones in its journey to 5G. The company is not only leading innovation in the field of mobile network, but also providing IoT, media, home and platform services. SK Telecom is determined to play a signifi­cant role in the Fourth Industrial Revolution by achieving innovations and promoting shared growth with other players in the industry.

Phicture: Park Jung-Ho, CEO and President of SK Telecom, and Grégoire Ribordy, co-founder and CEO of ID Quantique, at the signing ceremony for strategic investment plan.

(Press release)

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