Integrated HR infrastructure businesses that run recruiting and people management on data are drawing growing attention in the market.
Our client Codeit, an AI-driven HR infrastructure company, recently acquired WhatTime, the operator of the recruiting management solution RoundHR. Through the acquisition, Codeit is combining its AI interview solution Kade with WhatTime's recruiting workflow. The company plans to pursue global expansion by building an end-to-end model that handles the entire hiring process, from sourcing candidates to final offers, on a single infrastructure.
SOLARIS represented Codeit and advised on all aspects of the M&A transaction. Beyond a simple share acquisition, we focused on solving the industry-specific legal challenges that arise when AI technology and HR data are combined.
(Legal due diligence and deal structuring) We conducted due diligence on WhatTime's B2B contracts and intellectual property and designed the acquisition structure with Codeit's financial structure and IPO timeline in mind.
(Regulatory compliance) We analyzed the risks under the Personal Information Protection Act of combining AI interview data with applicants' history and evaluation data. By defining the permitted scope of data use and setting compliance standards, we headed off potential legal disputes in future service operations.
(IPO risk management) So that the M&A would not count against Codeit or raise governance issues in its KOSDAQ listing preliminary review, we built in contract terms controlling contingent liabilities and the potential for post-closing disputes.
SOLARIS will continue to solve the complex legal challenges facing innovative technology companies and support their stable growth.
[Related link]
- Article: Codeit Acquires WhatTime, Targets HR 'Vertical AI' on a Profitable Footing
[Attorneys]
- Attorney Soojin (Tommy) Park: https://solarislaw.net/구성원/member-psj
- Attorney Sungwoo (Goni) Kim: https://solarislaw.net/구성원/member-ksw