Almedio Inc. (TSE:7859) signed an agreement to acquire storage device business from Teac Corporation (TSE:6803) for ¥4 million in cash on June 19, 2014. The storage device business reported sales of JPY 2.89 billion for the period ended March 31, 2014. The transaction is expected to complete by June 30, 2014 and transfer of assets by July 31, 2014.

Almedio Inc. (TSE:7859) signed a business transfer contract to acquire storage device business from Teac Corporation (TSE:6803) on June 30, 2014.

Almedio Inc. (TSE:7859) completed the acquisition of storage device business from Teac Corporation (TSE:6803) on July 31, 2014. The amount of products, parts, and other assets was scheduled to be determined on early-August, 2014. However, the delivery of some products which was expected by July 31, 2014, has been delayed to late-August, 2014. Also, the finalization of the transfer amount of some plant assets is delayed until August, 2014.