South Korea’s Hyundai Glovis Co. has acquired Altiall, a local logistics automation solution and consulting company specializing in logistics automation software.

Hyundai Glovis, the logistics arm of Hyundai Motor Group, aims to accelerate its smart logistics solution business as a growth engine with the acquisition.

Hyundai Glovis on Monday said it recently signed a stock purchase agreement (SPA) to acquire a stake in Altiall. Financial terms were not disclosed.

Established in 2017, Altiall is a company with a competitive edge in design, development and installation of logistics automation software.

Until now, applying automation software to logistics sites has required suspending the operation of logistics centers, but Altiall is the first Korean company to develop a technology that rebuilds and applies automation software without interrupting system operations. According to Altiall, this can increase the productivity of logistics operations by 30 percent.

With the acquisition, Hyundai Glovis will gain momentum in expanding its smart logistics solution business. Smart logistics solutions apply various software and hardware technologies such as artificial intelligence, big data and robotics to the entire logistics process to maximize work efficiency.

Hyundai Glovis has been mobilizing its capabilities to expand its smart logistics solution business. Before the acquisition of Altiall, the company also invested in Boston Dynamics, a U.S. robotics company, to strengthen its automation equipment capabilities.

Hyundai Glovis aims to maximize the synergy from the Altiall acquisition to become a top player in the domestic logistics automation market by 2025.

It is also actively pursuing overseas markets. Utilizing its 45 domestic and 95 global logistics bases built over 20 years, Hyundai Glovis will expand its smart logistics solution business in global markets such as Southeast Asia and the U.S. The company is in talks with CP Group, the largest conglomerate in Thailand, to build small logistics centers in cities.

By Park So-ra and Minu Kim

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