SK Telecom's AI Chip Unit Sapeon Merges with Rebellions, Aiming for $740M Enterprise Value

Published: Aug 20, 2024 18:25

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[SK's AI chip startup Sapeon signs a merger agreement with Rebellions]
Sapeon Korea, the AI chip division of SK Telecom, has signed a merger agreement with rival semiconductor startup Rebellions. The two companies stated in a joint announcement that the deal is expected to create a merged business with an enterprise value exceeding 1 trillion Korean won (equivalent to US$740 million). Sunghyun Park, co-founder and CEO of Rebellions, will lead the management of the merged company, while SK Telecom will support its expansion as a strategic investor. The two companies had indicated in June that they planned to merge.

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