SK Broadband invests $4m in collaboration platform developer Swit

SK Broadband has decided to invest $4 million (5.5 billion won) in US collaboration platform developer Swit as the company seeks to boost its competitiveness in the business-to-business sector, the South Korean internet service provider said Wednesday.

On top of the investment, SK Broadband said the company will become the sole distributor of Swit in the domestic market while pushing for collaboration businesses including new products that will integrate its message and fax services with Swit’s collaboration tool.

Established in 2017, Swit developed a comprehensive work operating system solution that provides essential tools for team collaboration such as email, chat, task management and a calendar in one application.

Swit has been recognized for its integration of Google Workspace and Microsoft Office 365 -- the two most used work tools in the world. G2, one of the world’s largest business solution review platforms, announced in February that Swit was named to G2 2022 Best Software Awards List. According to Swit, the company has secured 37,000 customers in 184 countries.

“Beginning with the partnership with Swit, we will expand investments in company solutions. Through this, we will support companies' digital transformation and contribute to creating an ecosystem of a virtuous cycle that grows together,” said Lee Bang-yeol, vice president of Connect Infra Company at SK Broadband.

“By expanding collaboration with not only ICT companies such as SK Telecom, but also strategic partners, we will continue to strengthen our competitiveness in enterprise solution.”

By Kan Hyeong-woo (hwkan@heraldcorp.com)