Microtech Co.,Ltd (KOSDAQ:A227950) agreed to acquire 80% stake in Vitro Corporation from Abpro Bio Co., Ltd. (KOSDAQ:A195990) from Abpro Bio Co., Ltd. (KOSDAQ:A195990) for KRW 6.8 billion on October 23, 2019. Out of total consideration, KRW 3.4 billion was paid on October 23, 2019, KRW 1 billion was paid on October 31, 2019 and KRW 2.4 billion will be paid on November 29, 2019. Vitro Corporation had total assets of KRW 2.1 billion, net assets of KRW 1.2 billion, revenues of KRW 10.2 billion and net income of KRW 520 million in 2018.

Transaction was resolved by the Board of Microtech. Transaction is expected to close on November 29, 2019.