A consortium made of Macquarie and SK Telecom (SKT) has acquired a security services business in Korea from The Carlyle Group for $2.76bn (€2.33bn).

US private equity firm Carlyle said it has agreed to sell ADT Caps to SKT, the largest telecommunication operator in Korea, and Macquarie Infrastructure and Real Assets (MIRA) in a deal expected to close in the second half of the year.

Carlyle, through Carlyle Asia Partners IV and Carlyle Partners VI, bought ADT Korea and its subsidiaries including ADT Caps from security company Tyco for around $1.93bn in 2014.

Sanghyun Lee, the managing director of The Carlyle Group, said: “ADT Caps is a great example of Carlyle’s ability to create value through operational improvements and partnering with excellent management teams.”

Jinhwan Choi, CEO of ADT Caps, said, “The Carlyle Group has been a fantastic partner for ADT Caps and our management team over the last four years as we have re-established our security services leadership in Korea.”

“The acquisition by the SKT-MIRA consortium provides the business and the management with a phenomenal opportunity to continue delivering best-in-class central monitoring services to our customers, leveraging SKT’s leading AI and IoT technology.”