T-Max Group headquarters,
, ‘As T-Max Group regains T-Max Soft, it sets out to create growth momentum. Attention is focused on whether it will continue to strengthen its position in the domestic market after recently announcing a super app, leading to a potential listing in the future.’,
,
, ‘◇T-Max Group and Soft: Two years of relentless efforts’,
,
, ‘After selling a 60.7% stake in T-Max Soft to Sky Lake Equa Partners for 850 billion won in 2022, T-Max Group focused on strengthening its inner workings over the next two years.’,
,
, ‘One of the main reasons T-Max Group had to sell T-Max Soft was due to investments in new business areas such as operating systems (OS) and cloud services. The group used the proceeds from the sale to invest in these areas and continued its operations.’,
,
, ‘A recent notable achievement is the announcement of a super app.’,
,
, “Last month, T-Max Group unveiled the super app ‘Gaia.’ Gaia is a platform that integrates software (SW) technologies such as databases, OS, and office applications that T-Max Group has invested in with new technologies such as cloud, artificial intelligence (AI), and metaverse through virtualization.”,
,
, ‘In the second half of the year, T-Max Group will launch the business-to-business (B2B) version of Gaia and embark on expanding its market presence.’,
,
, ‘The sales of T-Max Data (DBMS), the flagship company of T-Max Group, and its subsidiaries increased by about 10% from 672 billion won at the time of T-Max Soft’s sale to 746 billion won last year.’,
,
, ‘T-Max Soft also saw a growth trajectory post-acquisition by Sky Lake. Sales increased from around 126.3 billion won in 2021, before the sale, to 156 billion won last year, an increase of about 300 billion won.’,
,
, ‘◇Synergy between the two companies?’,
,
, ‘With the reintegration of T-Max Soft into T-Max Group, attention is now on whether there will be synergy across the group’s businesses.’,
,
, ‘From a management perspective, T-Max Group has secured the external image and stable revenue stream of T-Max Soft.’,
,
, ‘From a business perspective, synergy is expected in the public and financial markets. T-Max Soft’s web application server (WAS) product currently holds about half of the market share in the public and financial sectors.’,
,
, ‘Given the significant collaboration between the two companies in supplying key products to major markets before the sale of T-Max Soft, there are expectations for continued collaboration following this reacquisition. In particular, it is anticipated that T-Max Group’s upcoming B2B super app in the second half of the year will secure a stable distribution network through T-Max Soft and others.’,
,
, ‘◇Remaining challenges until listing’,
,
, ‘T-Max Group’s ultimate goal is to go public. Chairman Park Dae-yeon of T-Max Group recently mentioned a listing on the Nasdaq market at a press briefing.’,
,
, ‘There are still challenges to overcome before the listing.’,
,
, ‘One of the challenges is improving profitability. Two years ago, T-Max Group attempted an initial public offering (IPO) before selling T-Max Soft, but faced difficulties due to reasons like the financial structure of certain subsidiaries related to OS and cloud services. Even if the company’s revenue scale expands with the acquisition of T-Max Soft, without securing profitability in other subsidiaries, it could once again face limitations in going public.’,
,
, ‘There are also governance issues to address.’,
,
, ‘According to industry sources, detailed conditions regarding governance between T-Max Group and Cactus Private Equity, who supported the funds for the acquisition of T-Max Soft, have yet to be finalized. As the leadership and management of T-Max Soft following the acquisition remain undecided, clarity on the roles and timing of the listing is expected to be determined based on the division of roles between T-Max Group and Cactus PE.’,
,
,