BusinessOn Signs MOU with Data Analytics Company Planit

[Asia Economy Reporter Minji Lee] BusinessOn Communication (hereinafter BusinessOn) announced on the 3rd that it has signed a memorandum of understanding (MOU), including a share acquisition, with Planit Partners (hereinafter Planit), a leading company in the data analytics field.

The acquisition price for 100% of the shares is 27 billion KRW. After signing the main contract, BusinessOn plans to emerge as a leading domestic company in the data business sector as well.

Planit provides end-to-end services from 'data planning and design to collection, processing, and visualization development.' It discovers more than 100 large corporations and institutional clients annually across all domestic industries, including Samsung Electronics, SKT, E-Mart, Hotel Shilla, and KB Kookmin Bank, generating annual sales of over 10 billion KRW solely from its 'data analysis and visualization business.' Besides the data analytics business, it has independently developed an automated year-end tax settlement solution, which is currently used by more than 200 companies and institutions.

Earlier, BusinessOn acquired Glosign, a leading company in the electronic contract sector, in July. With this acquisition of Planit, BusinessOn has secured competitiveness in data analytics in addition to its existing financial accounting services and electronic contracts.

A BusinessOn representative explained, “The combined data analysis service planning and capabilities of both companies will enable the development of advanced analysis solutions,” adding, “The automated year-end tax settlement solution can also be expanded beyond the core financial and accounting services to other business areas such as HR.”