Bitsrosis Completes Acquisition of Environmental Specialist Sangrim ENG... "Full-Scale Restart of Environmental Business"

Bitsrosis (CEO Lee Gi-jae) announced on the 5th that it completed the acquisition by paying the remaining balance of the purchase price for Sangrim ENG (CEO Park Tae-joon), an environmental specialized company, on the 3rd.

Starting with this acquisition, Bitsrosis will fully reactivate its environmental business division. A company representative explained, "We will lead R&D cooperation through our environmental plant division's achievements and Sangrim ENG's specialized technology," adding, "We also expect to create business synergies such as joint participation in domestic and international projects."

Sangrim ENG, acquired by the company, possesses various technologies including integrated water supply systems and water supply network maintenance systems. Sangrim ENG plans to implement smart administration in social welfare and urban development as part of its future environmental business.

Through the remote metering device whose product development has been completed, Sangrim ENG will lead the establishment of a digital water remote metering system, moving away from analog. The remote metering device is a terminal that communicates with each consumer's digital water, electricity, and gas meters to measure usage, stores data by time zone, and transmits metering data via IoT wireless communication (NB-IoT, LoRa, LTE-M, etc.).

Sangrim ENG plans to expand its business nationwide targeting local governments and water and sewage offices through this product. The company expects that through remote metering devices and systems, it will be possible to monitor water flow in real time, detect leaks, and perform maintenance for efficient water supply network management. It is also explained that this product has the distinctiveness of supporting both analog and digital methods, unlike other companies' products.

A Bitsrosis representative said, "This will be an opportunity for the environmental division, one of our major past businesses, to further develop," adding, "We will actively participate in local government bids based on our technological capabilities and use this as a stepping stone to drive performance." He added, "Through synergy with our company, we will also revitalize areas including traffic control, ITS, BIS, and BMS, as well as the environmental division."