LG CNS, General Atlantic team up on software, AI investments

LG CNS has partnered with General Atlantic, a U.S. investment firm with $130 billion in assets under management, to jointly invest in global enterprise software and artificial intelligence companies.

The companies signed a co-investment agreement at General Atlantic’s headquarters in New York, LG CNS said Thursday.

Attendees included LG CNS President and CEO Hyun Shin-gyoon and Mart?n Escobari, co-president and head of global growth equity at General Atlantic.

The two companies will jointly identify potential investments in enterprise software and AI. The size and terms of each investment will be determined and disclosed after a target company is selected.

General Atlantic had $130 billion in assets under management as of June. The New York-based investment firm employs more than 900 people across 20 countries and has invested in technology companies for more than 45 years.

LG CNS is seeking to diversify its business portfolio beyond traditional information technology services, in which it develops systems for corporate clients.

Acquiring software businesses with their own intellectual property would allow LG CNS to generate recurring revenue through licensing and subscriptions. The company also plans to connect the technologies and customer networks of portfolio companies with its IT services and artificial intelligence transformation, or AX, businesses to accelerate its global expansion.

The spread of agentic AI ? systems capable of independently planning and performing tasks ? is also increasing the importance of enterprise software. For AI agents to perform work inside a company, they must connect to software containing the organization’s core operational processes and data while complying with its security and regulatory requirements.

LG CNS plans to use General Atlantic’s global investment network to identify targets primarily in North America before expanding into the Asia-Pacific region. It will combine acquired software technologies and customer bases with its data center, cloud and AX capabilities to pursue additional business opportunities.

“Proactively securing enterprise software that handles companies’ core operations and data will be an important step toward building a foundation for future growth,” Hyun said. “Together with General Atlantic, we will secure the core business foundations that will shape future growth and combine them with LG CNS’ AX capabilities.”