Altiall Inc. Signs Stock Purchase Agreement (SPA) with Hyundai Glovis

On June 19, Altiall Inc. signed a stock purchase agreement (SPA) with Hyundai Glovis regarding the acquisition of shares.

Since our founding in 2017, Altiall has built its business on advanced technologies in warehouse automation and software control. Over the years, we have steadily expanded and evolved into a company that provides total solutions for warehouse automation.

The upcoming investment through Hyundai Glovis’ share acquisition will serve as a strong foundation for Altiall’s next stage of growth, enabling us to further strengthen our competitiveness in the rapidly expanding logistics automation market — not only in terms of market scale, but also in technological innovation.

Through this agreement, the two companies will create greater technological development and innovation by combining Hyundai Glovis’ global network and strong business foundation with Altiall’s technical expertise and experience. Together, we aim to deliver the highest levels of efficiency and cost-effectiveness for customers, secure leadership in the domestic logistics automation market by 2025, and expand into global markets thereafter.

In addition, since early this year, Altiall has been preparing for its European market entry. On May 25, we officially completed the registration of our European branch in Düsseldorf, Germany. Starting in the second half of this year, we will actively conduct market research and expand our sales base in Europe, laying a stronger foundation for future growth.

We look forward to sharing more exciting developments as Altiall continues its journey toward becoming a global leader in smart logistics solutions.

See related article from [The Korea Economic Daily]