GS ITM Pushes Ahead With Spin-Off of SaaS Affiliate GS Bizple
IT DAILY ·
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GS ITM announced on the 1st that it will push ahead with the spin-off of GS Bizple, its SaaS and platform subsidiary.
The restructuring is a governance overhaul aimed at enhancing expertise by business segment and building an independent growth foundation.
After the spin-off, GS ITM plans to strengthen the competitiveness and service quality of its core businesses in SI, SM, AX, security, and IDC.
GS ITM announced on the 1st that it will push ahead with the spin-off of GS Bizple, its SaaS and platform subsidiary. The decision is a governance restructuring aimed at enhancing expertise by business segment and building an independent growth foundation. GS ITM plans to reorganize GS Bizple’s structure, which handles the SaaS and platform businesses, to strengthen its specialization and secure a separate growth base.
Accordingly, GS ITM and GS Bizple are expected to complete their merger on the 1st in accordance with legal procedures, and the spin-off is scheduled to take place on December 1. GS Bizple was established through a physical spin-off in October 2024.
GS Bizple’s main platforms are the cloud-based HR management solution 'U.STRA HR' and the integrated ticket solution 'U.STRA TICKET.' GS Bizple continues to grow, supported by the market adoption of its flagship platforms. GS Bizple posted revenue of KRW 19.7 billion last year, and revenue is projected to reach KRW 26 billion this year, up about 32% from a year earlier.
After the spin-off, GS ITM plans to strengthen the competitiveness and service quality of its core businesses in SI, SM, AX, security, and IDC. GS ITM announced its push for the GS Bizple spin-off on the same day.
After the split, GS Bizple has secured a foundation for attracting outside investment and will focus on advancing its flagship solutions. GS Bizple has also secured eligibility to bid for public software projects under KRW 4 billion, and it plans to move in earnest into the public market on the back of that qualification. Lee Yoon-seok, CEO of GS Bizple, said the company will significantly strengthen its solution capabilities based on a flexible organizational culture and a swift decision-making system optimized for a platform company, and set out a goal of becoming a leading B2B platform company through active market diversification.
GS ITM, meanwhile, plans to strengthen the competitiveness of its core IT services in SI, SM, AX, security, and IDC, while also working to improve service quality.
The focus of this restructuring is on enhancing business specialization. Kang Min-gyun, CEO of GS ITM, said the restructuring was a strategic decision to allow both companies to concentrate on their core businesses and maximize their unique capabilities, adding that the company will pursue sustainable enterprise value creation by improving expertise in each business segment.
There will be no change to existing business operations under the restructuring, and there will be no change to customer services either.
Source: IT DAILY · Yang Seung-gap
Original: https://www.itdaily.kr/news/articleView.html?idxno=241944
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Source: IT DAILY
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