SK Broadband to invest $4M in Swit Technologies

Lee Bang-yeol, left, head of Connect Infra, a unit at SK Broadband, and Josh Lee, Swit Technologies CEO, pose for a photo during a signing ceremony held on Wednesday. [SK BROADBAND]

SK Broadband, an internet provider 74 percent owned by SK Telecom, said on Wednesday that it will invest $4 million in Swit Technologies, a San Francisco, California-based software company.

Founded in 2017, Swit offers collaboration software with the same name as the company.

SK Broadband said that it formed a business partnership with Swit through the investment deal. The company will be the local distributor of Swit software and also plans to introduce a collaboration software service product along with SK Broadband’s other business-related telecom services.

“Beginning with the collaboration with Swit, we will ramp up our investments in software-as-a-service businesses,” said Lee Bang-yeol, head of the company’s Connect Infra unit. “We will continue to strengthen our competitiveness in enterprise solutions by enhancing collaboration with not only our ICT affiliates such as SK Telecom but also other strategic partners.”

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]