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Altiall Inc. signed a stock purchase agreement (SPA) with Hyundai Glovis

Updated: Nov 7, 2023

We Altiall Inc. signed a stock purchase agreement related to the acquisition of shares with Hyundai Glovis on June 19th.

Since our establishment in 2017, our company has been built on advanced technology in the fields of warehouse automation and software control. As a result, we have gradually expanded our business and grown into a company that provides a Total Solution for warehouse automation.

In the midst of this growth, the coming investment through the acquisition of shares by Hyundai Glovis will provide us with a strong foundation to seek even greater growth in the rapidly expanding logistics automation market, not only in terms of market size but also in terms of technology advancement.

Through this agreement, both companies aim to create better technological development and innovation by mutually complementing Hyundai Glovis' global network and solid business foundation with our technical expertise and experience. We will provide customers with the highest level of efficiency and cost-effectiveness, firmly establish our position in the domestic logistics automation market by 2025, and subsequently expand into overseas markets. Furthermore, since the beginning of this year, we have been preparing and progressing towards establishing a European branch, and on May 25th, we finally completed the registration of our branch in Dusseldorf, Germany. Therefore, starting from the second half of this year, we will actively engage in market research and expand our sales base, aiming to lay a stronger foundation for further growth. We hope you look forward to the upcoming developments.

See related article from [The Korea Economic Daily].

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