ICTK to Acquire Network Security Firm withnetworks, Expanding from Security Chips into Global Enterprise Security Solutions

• withnetworks brings 5,000+ customers across telecom, public-sector, and financial markets, with stable annual revenue in the KRW 30 billion range
• ICTK to expand its PQC·PUF security chip and IP business for global Big Tech companies and physical AI manufacturers
• withnetworks to target domestic and global telecom and enterprise security markets with security-enhanced Wi-Fi 7 solution AiriX and withVTM

SEOUL, South Korea — October 1, 2026 — ICTK Co., Ltd. (KOSDAQ: 456010, CEO Justine J. Lee), a quantum security fabless company, announced today that it is pursuing the acquisition of withnetworks, a network and cybersecurity specialist. The move is aimed at diversifying ICTK's chip-centric business by expanding into network and security solutions built around Post-Quantum Cryptography (PQC) and Physically Unclonable Function (PUF)-enhanced security chips tailored to customer needs.

At the core of the acquisition is a two-track growth strategy combining the strengths of both companies. Building on PQC and PUF technologies, ICTK will supply security chips and IP directly to global Big Tech companies and physical AI manufacturers across robotics, drones, autonomous driving, and industrial IoT. For service providers—including telecom operators, public institutions, financial firms, and enterprises—ICTK's security technology will be embedded directly into withnetworks' network equipment and solutions. Insights and customer requirements gathered from these network-solution deployments will feed back into the advancement of ICTK's security chips and IP, while field-proven use cases will strengthen business proposals to global clients.

The acquisition target, withnetworks, brings a long track record in network and security infrastructure deployment and operations. Together with its subsidiaries, the company has provided consulting, deployment, maintenance, and operation services for wired and wireless networks and IT security infrastructure to domestic telecom operators, public institutions, financial companies, and enterprises. Alongside its Wi-Fi, cloud, and 5G infrastructure businesses, withnetworks supplies AiriX, a security-focused Wi-Fi 7 wireless LAN solution. It has also developed and operates a proprietary suite of security solutions, including the asset and vulnerability management platform withVTM, the heterogeneous firewall policy management solution withFLOW, and the threat exposure assessment service withREX.

Through managed security and infrastructure services for telecom operators, withnetworks has accumulated extensive network and security operational experience across more than 5,000 customer environments. On a consolidated basis, the company has maintained average annual revenue exceeding KRW 30 billion over the past three years, backed by ongoing maintenance and managed services that underpin a stable revenue foundation.

Through this acquisition, ICTK plans to secure withnetworks' established customer base, sales channels, and network security capabilities, establishing a direct commercialization path for applying its security technology in the field. On this foundation, ICTK will extend its chip-centric business into integrated solutions and services—specifically differentiating withnetworks' flagship solutions, AiriX and withVTM, by integrating ICTK's PQC·PUF technology.

AiriX will be the first to incorporate ICTK's security chips as the companies target the telecom market. As the spread of AI, cloud computing, smart factories, and IoT drives demand for higher speed, lower latency, and greater device density, enterprise and telecom wireless networks are rapidly migrating to Wi-Fi 7. Concurrently, in security-sensitive sectors such as telecom, public administration, and finance, ensuring the trustworthiness of access points (APs) and connected devices—not just network performance—has emerged as a core requirement.

For its part, withnetworks plans to combine ICTK's PUF-based security chips with AiriX's existing wireless security features—including AI-driven wireless threat detection (HawkAI) and firmware/core-process integrity verification—to build a hardware-based security framework that sets it apart from conventional Wi-Fi 7 products.

Applying PUF-based security chips gives each access point a unique, physically unclonable hardware identity and enables a Hardware Root of Trust (HRoT) that securely protects critical cryptographic keys. This establishes device trustworthiness at the hardware level and lays the groundwork for blocking unauthorized or tampered devices from accessing the network.

Adding ICTK's PQC technology further upgrades authentication and communication between APs and the network into a structure resilient against quantum computing threats. Through this integration, withnetworks intends to position AiriX as a differentiated, security-focused wireless network solution targeting telecom markets at home and abroad.

Meanwhile, withVTM is being advanced into a solution that addresses rapidly evolving security requirements, such as N2SF, Zero Trust, and PQC. It identifies IT assets—including servers, network equipment (such as APs), terminal and IoT devices, and services/APIs—and continuously manages their vulnerabilities and risk levels. This aligns with recent shifts in security policy, including N2SF (Korea's national network security framework), which applies tiered security controls based on information sensitivity, and Zero Trust, which continuously verifies users and devices rather than granting inherent trust.

Explore ICTK IP:

• Via-PUF Security Chip for Root of Trust
• TRNG (True Random Number Generator) NIST SP800-90C
• Silicon Proven Hardware Root of Trust

Notably, under the comprehensive plan for transitioning to post-quantum cryptography announced last month by South Korea's National Intelligence Service (NIS), PQC adoption will be factored into cybersecurity assessments starting in 2027. PQC implementation will be mandated in stages—for Key Encapsulation Mechanisms (KEM) from January 2029 and for Digital Signature Algorithms (DSA) from January 2030. As a result, network equipment's native PQC readiness is becoming a key competitive differentiator.

By linking ICTK's PUF-based device authentication technology with withVTM going forward, the platform will be able to verify whether a device is PUF-authenticated at the hardware level, going beyond simple asset identification. The companies plan to roll out this capability starting with AiriX APs equipped with PUF security chips. Authentication data from PUF-enabled devices will be linked with asset and vulnerability information, creating a structure that manages not only "what devices are connected" and "what vulnerabilities exist," but also "whether the device is authenticated."

Building on their domestic foundation, the two companies will actively target global telecom, enterprise, and manufacturing markets. withnetworks will lead with AiriX and withVTM, both reinforced by ICTK's PQC and PUF technologies. Domestically, the companies plan to secure deployment references among public-sector, financial, and enterprise customers responding to tightening security regulations, using these field references as a springboard into overseas markets. The strategy is to differentiate from existing wireless LAN and security solutions by offering an integrated security framework that spans hardware-based AP authentication through to asset and vulnerability management.

In international markets, ICTK will leverage its existing network and collaboration track record with global service providers, including Deutsche Telekom. Through this acquisition, ICTK can now directly fulfill global demand for end-to-end solutions with embedded security chips. withnetworks' solutions, strengthened by ICTK's technology, are expected to serve as a bridgehead for entering global markets.

The strategy is to expand overseas business opportunities through a three-pronged portfolio: offering AiriX to global telecom operators, withVTM to enterprise and public-sector security markets, and ICTK's security chips and IP to global Big Tech companies and physical AI manufacturers.

"As stronger security becomes an indispensable requirement, ICTK will expand its PQC·PUF security chip and IP business toward physical AI manufacturers and global Big Tech firms, while withnetworks targets telecom and enterprise security markets at home and abroad with its enhanced AiriX and withVTM solutions," said Justine J. Lee, CEO of ICTK. "Because the transition to PQC requires comprehensive changes spanning key management and chip-level authentication up to network operations, this combination enables us to deliver a complete PQC migration framework—from the chip's Root of Trust to full network infrastructure."