Artificial intelligence (AI) security company EverSpin said on the 15th that it formalized strengthening three-way cooperation for enhanced security with SBI Holdings, a major Japanese financial group, and their joint venture SBI EverSpin. EverSpin plans to use this cooperation as a springboard to fully expand its overseas business.
With this cooperation, EverSpin's solutions will be applied to the groupwide security system of the SBI financial group. This is the first time EverSpin's technology will be deployed across the security architecture of a large overseas financial group. Earlier, SBI Holdings and SBI EverSpin signed a comprehensive security contract to strengthen the security governance system across finance, investment, and platform services within the SBI group.
EverSpin said it holds 30% equity in SBI EverSpin, allowing it to recognize equity-method gains in addition to the royalty revenue it receives.
Ha Young-bin, CEO of EverSpin, said, "This three-way cooperation is the first case in which EverSpin's technology has been officially recognized in the global financial sector and will be the starting point for overseas business expansion," adding, "We will expand technology supply to key overseas markets, including not only the Japanese market but also Asia and North America, and strengthen global partnerships."