Shinsegae’s IT services wing to acquire e-commerce software solutions company

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SEOUL — Shinsegae I&C, the IT services wing of South Korean retail giant Shinsegae, is to acquire a national e-commerce software solutions company to boost its business influence in online shopping services and management client.

Shinsegae I&C said in a conference call on March 24 that the company will acquire a 100% stake in Plgrim, a domestic e-commerce solutions developer, for 25 billion won ($20 million) to secure an engine of growth. The acquisition will take place on March 31, 2024, the company said, without disclosing details.

The acquisition of Plgrim follows Shinsegae I&C’s aggressive strategy to expand its business into cloud computing and robotic process automation (RPA) solutions. The company focuses on developing unmanned store solutions such as smart shelving, 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 customized private cloud server products. In January 2022, the South Korean company partnered with Posco ICT, the information and communications technology services wing of major South Korean steelmaker Posco, to develop and distribute RPA solutions.

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