ADTEC Corporation (JASDAQ:6840) concluded a contract to acquire remaining 28.59% stake in Buddynet Inc. for ¥130 million in stock on February 27, 2015. ADTEC Corporation will acquire 263 shares of Buddynet at an exchange ratio of 2,000 shares each to be issued for one share of Buddynet. A total of 0.53 million shares will be issued as consideration.

For the year ending December, 2014, Buddynet Inc. had net assets of ¥73 million, total assets of ¥160 million, sales of ¥574 million, operating profit of ¥92 million and net income of ¥55 million. The deal is subject to the approval in the shareholders' meeting of Buddynet scheduled on March 30, 2015. The Board of ADTEC Corporation resolved the deal on February 27, 2015.

The transaction is expected to complete on March 31, 2015. Plus Sum Consulting Co., Ltd acted as third party appraiser to ADTEC.