MediaZen, Inc. announced that it has received KRW 2.8 billion in funding from Bluecom Co., Ltd.
August 27, 2012 at 12:00 am EDT
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Media Zen Co., Ltd. announced a private placement of 560,000 common shares at KRW 5,000 per share with new investor, Bluecom Co., Ltd. for gross proceeds of KRW 2,800,000,000 on August 23, 2012. The payment date is August 27, 2012. The investor will acquire 19.31% stake in the company. The company has total assets of KRW 3,525,000,000, revenues of KRW 3,387,000,000, and net profit of KRW 110,000,000 in 2011.
On August 27, 2012, Media Zen Co., Ltd. closed the transaction.
Mediazen Inc is a Korea-based company principally engaged in the development, manufacture and distribution of medium related software and hardware. The Companyâs products include speech recognition solutions, sound recognition and orientation detection engine, the way to the speech recognition, speech recognition, speech recognition evaluation software automatically adjust the volume assessment equipment, speech recognition engine noise at tea room, equipment acquisition, however, Voice Synthesis engine, server speech recognition engine and server dialog processing engine. The Company distributes its products within domestic market and to overseas markets.