GS ITM to spin off its SaaS unit GS Bizple on December 1
The Korean IT services firm separates its fast-growing SaaS business so it can raise money and bid for public-sector work.
GS ITM, the IT services arm of South Korea's GS Group, will make its SaaS and platform business, GS Bizple, an independent company through a personnel split on December 1. Shareholders will hold equity in the new company directly.
GS Bizple was first carved out in October 2024. Its main products are U.STRA HR, a cloud HR system, and U.STRA TICKET, a ticketing platform. Revenue was 19.7 billion won (about $14.5M) last year and is projected at 26 billion won (about $19.1M) this year, roughly 32% growth.
Independence lets GS Bizple raise outside investment directly and, according to the company, become eligible to bid on Korean public-sector software contracts under 4 billion won (about $2.9M). GS ITM will focus on system integration, system management, AI transformation, security and data centres. Both companies say existing customers will see no change in service.
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