New technology materials company IL (CEO Song Seong-geun) announced on the 1st that it has officially completed its merger with Itronics, a company specializing in autonomous driving and application-specific integrated circuit (ASIC) design.
Itronics possesses core autonomous vehicle technologies, including RF/sensor design, V2X communications, and digital image processing, as well as proprietary ASIC semiconductor design capabilities. It has built 199 of the 459 Hi-Pass lane control systems on domestic highways, representing approximately 43%.
IL has entered the global automotive electronics market based on its silicon-based LED lens technology and is securing manufacturing capabilities in optical and automotive electronics. This merger will expand access to new markets in the automotive electronics and public ITS sectors, while securing a stable revenue structure spanning design, construction, operation, and maintenance.
With the recent relocation of its subsidiary IL Cellion to the Cheonan Smart Factory, IL has established a one-stop production system encompassing lenses, PCBs, and lamps. Through the merger, IL has completed a full-stack mobility value chain that extends from semiconductors, sensors, optics, communications, and vehicle and road infrastructure.
An IL official stated, “With this merger, we have secured a single supply system that can expand to future vehicles, autonomous driving, infrastructure, and robots. Through increased orders and growth, we will leap forward as a full-stack mobility company that connects vehicles, roads, and cities.”
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