first_img Kavit Majithia Previous ArticleTelecom Italia agrees fixed spin-off, eyes digital boostNext ArticleFCC plans Puerto Rico, US Virgin Isles disaster fund Related Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >> Read more Asia HomeAsiaNews SKT eyes expansion into security sector AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 07 MAR 2018 Carlyle GroupMacquarieSK Telecomcenter_img ICT business gains fuel SKT revenue Tags Korea operators make rural 5G pledge SKT tipped for Amazon streaming move Author SK Telecom (SKT) reportedly made a non-binding bid to acquire South Korea-based security systems company ADT Caps, in a deal which could be worth almost $3 billion.The Korea Times reported SKT had joined the battle for ADT Caps as it looks to expand into services adjacent to its core business and escape ongoing saturation in the telecoms industry. ADT Caps is estimated to be worth around $2.8 billion: SKT submitted its proposal in partnership with Macquarie Infrastructure and Real Assets, the newspaper stated.ADT Caps, currently owned by US asset management company Carlyle Group, was put up for sale at the end of 2017. SKT faces competition from a consortium led by private equity company CVC Capital Partners, which in February submitted a bid for a 100 per cent stake in the company.A former unit of Tyco International, ADT Caps provides central monitoring, access control, video surveillance and other security services. It was bought by Carlyle Group in an auction in February 2014 for $1.93 billion.Carlyle Group will reportedly announce its preferred bidder soon, after comparing the conditions and prices from both parties.SKT has notably been stepping up its interest in the security sector and set up a task-force in September 2017.last_img