Ericsson and SK Holdings have signed a memorandum of understanding (MoU) to develop what they are calling “a global collaborative ICT ecosystem” for the enterprise market.

The two companies said they would jointly develop “specialised IoT platforms” for industry sectors including healthcare and transportation, as well as explore opportunities relating to emerging ICT services such as global disaster recovery and IoT authentication in the Asia Pacific area.

They will also look to develop convergence security solutions by combining Ericsson’s network security technology with the data security capabilities of SK Holdings' Infosec unit.

Finally, the MoU will see the creation of a joint task force to develop “business strategies” that build on Ericsson's network capabilities.

Ericsson President and CEO Hans Vestberg said: "Our IoT platform has opened up great opportunities for businesses across industries. We look forward to working together with SK Holdings to build a strong ICT ecosystem to realise and capture the benefits of the Networked Society."

[Read more: Ericsson formalises new non-telco business unit]

The Sweden-based vendor saw net profits tumble on sales that rose 11 percent in the second quarter of the year.

SK Holdings is the parent company of SK Telecom, with whom Ericsson is doing a lot of work with on 5G technologies.

SK Holdings CEO Park Jung-ho said his company wanted to forge partnerships with leading global companies in the areas of IoT, cloud networks and big data.

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