InnoWireless Acquires 90% Stake in Myeongseong Lifix

Innowireless announced on the 21st that it has agreed to acquire 24,499 shares of Myungseong Lifix, a semiconductor distribution company for vehicles, for 39.15013 billion KRW.

Through this acquisition, Innowireless will hold a 90% stake in Myungseong Lifix.

The company explained, "This decision is aimed at entering the automotive industry as a new venture and increasing sales and profits through business diversification."