BBIK closes a deal to buy 40% of IT-CAT shares and embarks on human resource management work

Bluebeak Group Limited (BBIK) has acquired 40% of IT-CAT Co., Ltd. shares from the previous shareholders, accelerating the enhancement of human resource capabilities on the cloud-based system, known as “HumanOS,” developed by IT-CAT, with the belief that it can generate stable long-term revenue.

On April 19, 2022, Mr. Phachar Arayakarnkul, CEO of Bluebeak Group Limited (BBIK), stated that currently, human resource management is of utmost importance for every organization because personnel is one of the key drivers for an organization’s stable and sustainable growth. Additionally, the emergence of new work patterns such as Work from Anywhere or Remote Work has led to a continuous increase in the demand for technology in human resource management.

Therefore, there is a keen interest in efficient human resource management products, which has led to the decision to invest in this area. The company believes that IT-CAT’s expertise in designing and developing applications, especially the Human Resource Operating System known as “HumanOS,” which has gained significant trust from numerous customers, will strengthen the company’s product offerings and cater to all dimensions of customer needs.

Mr. Phachar added that we are excited to be part of the investment in IT-CAT, a company that excels in providing Software-as-a-Service (SaaS) solutions in the cloud system at the organizational level. With over a decade of experience serving large-scale customers, IT-CAT also boasts a user base of more than 100,000 for their HumanOS system.

Through this 40% acquisition of IT-CAT, we believe that not only will it enhance Bluebeak’s competitiveness but also allow the company to expand its customer base into medium-sized and small organizations by offering IT-CAT’s products. Additionally, this investment provides opportunities to develop new solutions and tap into future business prospects from the existing user base. Concurrently, Bluebeak will work on strategic plans to expand the user base for IT-CAT’s HumanOS system, strengthening their marketing strategy for broader outreach.

Mr. Sorawut Nupongrang, an executive and co-founder of IT-CAT Co., Ltd., stated that IT-CAT specializes in designing and developing web-based and mobile applications, trusted by numerous government and private sector organizations.

Being a part of Bluebeak is seen as a significant step because it combines Bluebeak’s expertise in digital transformation with IT-CAT’s capabilities in application design and development. This collaboration enhances the potential and strength of both organizations.

Mr. Chaowdee Barmi, co-founder of IT-CAT and overseer of the “HumanOS” system, noted that “HumanOS” is a human resource solution capable of efficiently meeting the complex needs of each organization. It includes features such as time attendance, leave management, overtime work, and remote work, all of which employees can conveniently handle on their mobile devices. Furthermore, the system includes document and approval workflow management processes.

Furthermore, back-office tasks for HR departments, such as salary calculations, social security, taxes, funds, performance evaluations, and training, have become increasingly popular within businesses today due to the cost-saving efficiency of the “HumanOS” system. This is because “HumanOS” operates in a cloud-based system, which allows for budget savings in IT equipment maintenance and upkeep.

“This investment in IT-CAT aligns with Bluebeak’s investment plan for the year 2022, which focuses on continuous business expansion and services through business acquisitions. It reflects the company’s capability to grow and reaffirms our belief that this year’s business performance will grow by no less than 50% as anticipated. Bluebeak continues to seek investment opportunities in new businesses to enhance operational efficiency continuously, aligning with our mission as a Venture Builder,” Mr. Phachar stated.