COMPAREX Group takes over Korean software licensing and IT-consulting expert BUYSOFT Inc.Leipzig, 16.08.2016 - COMPAREX Group, executing on its geographical growth strategy, has acquired a majority share in Korean software licensing and IT-consulting expert BUYSOFT Inc. The transaction is complete as of August 12 following the approval of authorities. It widens the reach of COMPAREX in Asia, which includes subsidiaries in China, India, Indonesia and Singapore. It is the first acquisition between a multinational corporation and a local firm in the field of software licensing and IT consulting industry in Korea.
With 17 years of expertise in license management, sourcing, and technical product consulting, BUYSOFT has ranked as one of the leading Microsoft LSP (Licensing Solution Providers) in Korea. The company employs 20 people and is the only one managed by a female CEO, Tiffany Baek, in this industry.
Wilfried Pruschak, COMPAREX CEO: “This is an important step to strengthen our foothold in the vibrant East-Asian market and we are very excited to be able to do that together with BUYSOFT. This means tremendous opportunities for our companies, and above all, for our existing and new customers globally.”
Tiffany Baek, Chief Executive Officer and founder of BUYSOFT: “This partnership will sharpen the competitive edge for Korean firms that are seeking an enhanced IT solution. BUYSOFT will extend its business to SAM and Cloud as a peerless IT solution expert. We are sure that our decision and efforts will pay off, being in an outstanding position to meet the demand for software-related services like software asset management.” As part of the COMPAREX Group, BUYSOFT will reinforce its competency by delivering software licensing and cloud-based services with the Group’s international cooperation.
BUYSOFT Chief Executive Officer Tiffany Baek, reporting to Executive Vice President APAC Sebastien Sisombat, and her team will continue managing the company. The parties have agreed not to disclose any terms of the acquisition.
Press Release (PDF)