Hancom Inostreem Merges with Logos Data... Expanding Enterprise AI Market

Targeting the AI-Based Business Intelligence Market

Hancom, a subsidiary of Hancom Inc., is expanding its presence in the artificial intelligence (AI)-based Business Intelligence (BI) market by merging with Logos Data, a company specializing in data analysis and visualization.

Hancom Inostream CI [Image=Hancom]

On the 10th, Hancom announced that its subsidiary Hancom Inostream signed a merger agreement with Logos Data. Through the merger, Logos Data will be dissolved, and the surviving company Hancom Inostream will inherit all rights, including corporate assets. The detailed merger procedures are expected to be completed by August. After the merger, the CEO will be Choi Sung, the current CEO of Logos Data.

Logos Data primarily conducted data consulting businesses such as analysis, visualization, and modeling, as well as professional training for practitioners, based on the BI solution 'Tableau.' Over 90% of its workforce are developers, and it includes numerous data visualization experts. The company has enhanced its business capabilities by executing BI projects across various industries, including Hyundai Motor Company, Hankook Tire, SK Discovery, and CJ Logistics.

BI refers to a system that collects and analyzes a company's big data and converts it into insights to support data-driven decision-making. It reduces the time required to prepare reports, thereby improving management efficiency, and has been adopted by many companies both domestically and internationally.

Hancom officially entered the AI-integrated BI market by acquiring Hancom Inostream in January. With the merger of Logos Data, Hancom plans to further advance its AI-focused business.

Kim Yeon-su, CEO of Hancom, said, "We expect the synergy between the two companies to be maximized through this merger," adding, "We will continue to expand our business utilizing AI and data, such as increasing our market share in the enterprise AI market through the AI-integrated BI business."

This content was produced with the assistance of AI translation services.