[Press] Cloocus Accelerates Global Expansion as an AI MSP through Planned IPO

June 12, 2025 – Cloocus (CEO: Steve Hong, www.cloocus.com), a leading provider of cloud consulting and managed services specializing in Data and AI, is accelerating its global expansion by initiating plans for an IPO(Initial Public Offering).

Cloocus has recently begun the process of selecting underwriters for its IPO.

As of fiscal year 2024, the company recorded revenue of KRW 203.6 billion (a 23% increase year-over-year), a 64% growth in service revenue, and a 68% reduction in operating loss. In Q1 2025, Cloocus successfully turned to operating profit, continuing its trend of improved financial performance.

Through strategic partnerships with global tech leaders such as Microsoft, Google, AWS, Databricks, and Wiz, Cloocus provides advanced managed services that go beyond simple reselling. These include data and AI platform implementation, cloud security, and automated operations. Its proprietary MSP framework, developed in-house, offers a consulting-level approach and serves as a key competitive edge in supporting digital transformation for enterprise customers.

In 2025, Cloocus will establish its Japan office and begin local operations. The company also plans to run global tech centers in Korea, Malaysia, and the United States, providing 24/7 technical support. These centers will go beyond infrastructure operation, delivering comprehensive managed services that encompass security, cost optimization, and AI-powered data analytics and utilization.

The opening of Microsoft’s new data center in Malaysia on May 28 is expected to significantly boost local demand for AI and cloud services. Cloocus, which established Cloocus Malaysia as a joint venture with Bursa Malaysia-listed Censof Group in 2021, has already laid a strong local foundation and is fully prepared to scale its services in the region.

“Our goal is to become a leading global MSP that provides practical, AI- and data-driven managed services in today’s fast-changing technological landscape,” said Steve Hong, CEO of Cloocus. “Through the IPO, we aim to expand our global market presence and enhance the sophistication of our services to deliver reliable value to customers worldwide.”