i3system is showing strong performance. The news that LIG Nex1 is pushing to acquire shares of the U.S. robotics company Ghost Robotics appears to be influencing the stock price.
As of 11:05 AM on the 11th, i3system is trading at 35,600 KRW, up 11.25% from the previous trading day.
LIG Nex1 announced after the market closed on the 8th that it plans to acquire 60% of the shares of the U.S. robotics company Ghost Robotics for 315 billion KRW. Ghost Robotics is the company that produced the robotic dog used for presidential office security at Yongsan Park.
LIG Nex1 explained the background of this acquisition by stating, "We aim to secure a future growth platform and enter the U.S. defense market by acquiring 60% of the shares of the U.S. robotics development company Ghost Robotics."
Jaeho Seo, a researcher at DB Financial Investment, analyzed, "LIG Nex1's acquisition of Ghost Robotics raises expectations for entry into the U.S. market and will add synergies in the defense sector."
Seungyun Yang, a researcher at Eugene Investment & Securities, predicted, "A reduction in military personnel is expected in major countries such as the U.S. and Korea in the future," and added, "Unmanned Manned Teaming (MUM-T) systems will be actively utilized on future battlefields." He emphasized, "LIG Nex1's investment will lead to preemptive technology investment and securing business items," and "Quadruped robots are not only used for military purposes such as reconnaissance, surveillance, and combat, but as a single robot platform, they are expected to have diverse applications in civilian sectors as well."
i3system develops image sensors and related products that convert various electromagnetic wave energy information?from the X-ray band, which is invisible to the human eye, to the infrared band?into visible image information.
In the case of infrared image sensors, rather than directly contracting with the government as subcomponents of higher-level systems such as tanks, armored vehicles, and guided weapons, contracts are usually made with system companies like Hanwha Systems and LIG Nex1. The production plan for military infrared image sensors produced by i3system is established based on the supply schedule and quantity of products according to contracts between the government and system companies. Because infrared image sensors are core military components, unlike general subcomponent suppliers, i3system tends to receive direct technical and business cooperation, management, and control from the government.
Minjung Kwak, a researcher at Hyundai Motor Securities, explained, "i3system is the only domestic mass supplier of infrared image sensors based on proprietary sensor technology," and added, "Only seven countries worldwide possess infrared image sensor technology, making the technological entry barrier very high." She continued, "At this year's SPIE conference, they announced the development of a TiOx-based uncooled 8μm pitch infrared sensor," and noted, "Reducing pixel pitch enables low-cost production without system integration loss." Furthermore, she emphasized, "The TiOx-based sensor with an 8μm pixel pitch has proven structural robustness and temperature stability, allowing for expanded application in both military and civilian sectors."
Researcher Kwak forecasted, "With capacity expansion and yield improvement of uncooled sensors besides cooled types, along with the potential application expansion to autonomous vehicles, drones, and satellites, i3system's growth will lead to a high valuation."
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