SmartOrange Inc. signed basic agreement to acquire 90% stake in AUN Korea Marketing Co., Ltd. from AUN Consulting, Inc. (TSE:2459) for KRW 27 million on April 22, 2013. SmartOrange will acquire 0.09 million shares of AUN Korea Marketing. AUN Korea Marketing reported sales of ¥15 million (KRW 222.89 million), net assets of ¥3 million (KRW 44.58 million), total assets of ¥5 million (KRW 74.3 million), operating loss of ¥11 million (KRW 163.46 million) and net loss of ¥11 million (KRW 163.46 million) for the period ending May 2012. The Board of Directors of AUN Consulting has resolved to undertake the transaction on April 23, 2013. The share transfer agreement is expected to be signed in mid May 2013 and the transaction is expected to close in mid June 2013. The conversions have been made through www.oanda.com as on May 31, 2012.

SmartOrange Inc. completed the acquisition of 90% stake in AUN Korea Marketing Co., Ltd. from AUN Consulting, Inc. (TSE:2459) on July 5, 2013.