L.T. Elevator Acquires South Korea's DYPC Inc. for Global Parking Tech
L.T. Elevator Limited has signed a Share Purchase Agreement to acquire DYPC Inc. (Dongyang PC Inc.), a South Korean manufacturer of automated mechanical car parking systems. This strategic move aims to enhance L.T. Elevator's technological capabilities, expand its international presence, and bolster its growth in the automated parking solutions sector. DYPC Inc. brings proprietary SMART PARKING® technology, a global distribution network, and a significant order book, including an ₹8 Cr order from the USA, marking L.T. Elevator's entry into the US market. The acquisition is expected to contribute ₹30 Cr in revenue with industry-leading margins for the remainder of the fiscal year. L.T. Elevator also announced its home elevator business has achieved ₹100 Crore ARR.
Key Highlights
- Acquires South Korean automated parking systems maker DYPC Inc.
- Gains proprietary SMART PARKING® IP and 12 international patents.
- Acquisition includes ₹65 Cr order book and entry into the US market.
- Expected ₹30 Cr revenue contribution from DYPC this fiscal.
- Home elevator business crosses ₹100 Crore ARR milestone.
Price Impact
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