Benoti&AR's Acquisition of RTcast 'Smooth Sailing'... Driving Synergy Creation

Benoti&AR, a KOSDAQ-listed company (CEO Jeong Jib-hoon), announced on the 13th that the acquisition of Alticast is progressing smoothly.

Benoti&AR completed its investment in Alticast's paid-in capital increase and perpetual convertible bonds on the 24th of last month, and the financial investors (FIs) who joined Benoti&AR in investing in Alticast are also proceeding with their investments without any issues.

Alticast is a software specialist company with over 25 years of experience in the software field. Based on industry-leading technology, it has developed and supplied optimal software solutions to customers in various sectors domestically and internationally, including ▲mobility ▲e-commerce ▲blockchain ▲finance ▲telecommunications, and has also performed platform quality verification tasks.

Through investments from Benoti&AR and FIs, Alticast is expected to secure approximately 40 billion KRW in funding. With financial stability secured, Alticast plans to promote its blockchain game platform business based on its technological capabilities. Additionally, it will collaborate with Human in Motion Robotics, Benoti&AR's robotics affiliate. The two companies aim to maximize synergy by combining robotics and software technologies and explore business opportunities in the humanoid robot sector enhanced with artificial intelligence (AI).

A representative from Benoti&AR stated, "This acquisition of Alticast will provide momentum for Alticast's new business initiatives and serve as a foundation for Benoti&AR's robotics business to expand centered on AI. Through cooperation with Alticast, Benoti&AR will secure a technological advantage in the robot market, which is being reorganized based on AI."

Meanwhile, Benoti&AR officially entered the global robotics market in May 2023 by making an equity investment in Human in Motion Robotics. Recently, after obtaining sales approval from Health Canada for the rehabilitation wearable robot 'XoMotion-R,' it signed its first sales contract, showing tangible results.