ICTK to acquire 56.75% of Withnetworks in quantum security push

South Korea's ICTK is acquiring 715,080 shares of Withnetworks, securing a 56.75% stake and becoming its largest shareholder. The deal is funded via convertible bonds issued last May. ICTK plans to combine its PQC/PUF security chips with Withnetworks' AiriX Wi-Fi 7 and withVTM platforms.

• ICTK to take 56.75% of Withnetworks via 715,080 shares
• Acquisition funded by proceeds from convertible bonds
• Withnetworks has held annual revenue above KRW 30B for three years
• Korea will factor PQC adoption into cyber evaluations from 2027