LG Electronics Inc. agreed to acquire 63.9% stake in Cybellum Ltd. from Blumberg Capital, L.L.C., Target Germanium GmbH, RAG-Stiftung Beteiligungsgesellschaft mbH and others for approximately $140 million.

LG Electronics Inc. (KOSE:A066570) agreed to acquire 63.9% stake in Cybellum Ltd. from Blumberg Capital, L.L.C., Target Germanium GmbH, RAG-Stiftung Beteiligungsgesellschaft mbH and others for approximately $140 million on September 23, 2021. LG committed to a simple agreement for future equity (SAFE) to invest an additional $20 million in Cybellum. Remaining shares will be acquired in the near future with the final valuation and total investment amount to be confirmed at that time.

The transaction was approved by LG Electronics's board.