SK Telecom's SAPEON and Rebellions Merge: AI Chip Powerhouse
Seoul, South Korea - SAPEON Korea, an AI semiconductor company established by SK Telecom (NYSE: SKM), and South Korean AI chip startup Rebellions Inc. have signed a definitive merger agreement.
The merger, based on an equity value ratio of 1:2.4, aims to enhance South Korea's global AI infrastructure market competitiveness.
SAPEON Korea will be the surviving entity, but the merged company will operate under the Rebellions name.
Rebellions' current CEO, Park Sung-hyun, will lead the new entity, which is expected to launch within this year.
SAPEON's current shareholders will sell 3% of their shares before the merger to ensure management stability.
SK Telecom will remain a strategic investor, supporting the new company's global expansion efforts.
The merger combines SAPEON's experience in high-performance AI semiconductor development with Rebellions' rapid innovation in AI chip production.
SAPEON spun off from SK Telecom in 2016 and launched South Korea's first AI semiconductor for data centers in 2020.
Rebellions, founded in 2020, has already released two AI chips and secured over $225 million in funding.
The merged entity aims to compete more effectively in the global AI semiconductor industry, leveraging its combined neural processing unit (NPU) market expertise.