Urban Living Technology, a startup under SCG Distribution and Retail Co, has merged with LivingOS Corporation to strengthen their businesses that specialise in managing housing issues in condominiums and housing estates through online apps, with a goal to reach 1 million residents by 2026.
The merger, featuring a share swap agreement between the two entities, will allow LivingOS to increase its market share in the industry to over 50%, said Thanawadee Chiawchanchokchai, chief executive of LivingOS.
Urban Living Technology, which has an application called Urbanice, is now part of LivingOS, which offers services including enterprise resource planning on the Cloud and a mobile app facilitating communication between managers of juristic offices in condominiums and housing estates and residents.
"The collaboration will enable both companies to enhance their housing estate services and management solutions, better addressing customer needs," said Wiroat Rattanachaisit, president of SCG Distribution and Retail.
SCG Distribution's parent company -- Siam Cement Group (SCG), Thailand's largest cement producer and industrial conglomerate -- continues to invest in digital technology development as it believes digital tech will play a stronger role in driving forward the construction industry.
SCG expects the merger to expand its distribution and retail operations, meeting the needs of customers on the SCG Home Online platform.
"This investment will assist customers in enhancing their quality of life by utilising the applications," said Mr Wiroat.
"This will also enable SCG to remain dedicated to its mission of developing high value-added products."
LivingOS aims to boost the number of residents utilising its housing and condominium management apps to 1 million by implementing a three-stage strategy.
During the initial phase, the company will implement artificial intelligence to enhance smart property management and residential security.
It will then transform LivingOS into a "smart life buddy" for residents, introducing them to a range of products and services within the SCG housing ecosystem.
In the third stage, the company will utilise a database of condos and housing projects, covering 1 million units, to streamline the purchasing process for prospective investors and buyers.