BusinessOn Acquires Nudge Partners... Expanding 'Financial Tax Total Solution' Offerings

[Asia Economy Reporter Minji Lee] BusinessOn Communication (hereinafter BusinessOn), which provides electronic tax invoice services, announced on the 8th that it has signed a contract for a business partnership including equity acquisition with Nudge Partner (hereinafter Nudge), a company specializing in evidence management and voucher processing.

The acquisition price is 10 billion KRW (80% equity). Through this merger and acquisition, BusinessOn will be able to offer an integrated financial management solution that organically links a series of work processes from essential electronic tax invoice tasks to financial services such as evidence management and voucher processing, as well as tax filing tasks, which is expected to dramatically improve customers' financial and tax operations. The company stated, "We expect to generate new revenue sources of a scale similar to our core electronic tax invoice service."

Nudge has distinguished itself in the field of automated tax work solutions linked to expense processing through electronic evidence and voucher creation. It also provides firm banking solutions that handle bank-linked fund payroll and foreign exchange operations, as well as project management and customer management solutions.

The field of automated services for electronic evidence, voucher creation, and tax filing through integration with corporate ERP systems can rapidly expand to large corporations and global IT companies currently using electronic tax invoices linked to ERP, maximizing sales synergy by securing customer convenience and strengthening service competitiveness.

Additionally, Nudge's technological capabilities are expected to contribute to the advancement of various solution functions that BusinessOn has been developing, including electronic tax invoices, integrated purchase and sales management, and API provision, generating technical synergy.

Meanwhile, last year, BusinessOn completed the acquisition of 'Glosign,' a leading technology company in the electronic contract field, and 'Planit' to expand and advance the value chain of its big data business, aiming to create synergy among its major businesses.