Shinsegae I&C said in a conference call on March 24 that the company will acquire a 100 percent stake in Plgrim, a domestic ecommerce solution developer, for 25 billion won ($20 million) to secure a growth engine. The acquisition will take place on March 31, 2024, the company said, without disclosing details.
The acquisition of Plgrim comes on the heels of Shinsegae I&C's aggressive strategy to expand its business scope to cloud computing and robot process automation (RPA) solutions. The company focuses on the development of unmanned store solutions such as smart shelves, unmanned kiosks and smart vending machines.
In September 2021, Shinsegae I&C forged an alliance with Intel Korea and two other companies to jointly develop personalized private cloud server products. In January 2022, the South Korean company partnered with Posco ICT, the information communication technology service wing of South Korea's major steelmaker Posco, to develop and distribute RPA solutions.
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