SBI AXES Co., Ltd. cancelled the acquisition of an additional 17.04% stake in BroadBand Security., Inc.
April 26, 2016
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SBI AXES Co., Ltd. (KOSDAQ:A950110) agreed to acquire an additional 17.04% stake in BroadBand Security., Inc. for KRW 3.7 billion in cash on April 27, 2015. Upon completion, SBI AXES will hold a 27.89% stake in BroadBand Security. The acquisition amount will be supplied with SBI AXES' own funds. As of June 30, 2014, BroadBand Security., Inc. had total assets of KRW 12457 million, net asset of KRW 961 million, revenue of KRW 21250 million and net loss of KRW 142 million. The Board of Directors of SBI AXES resolved the deal. The deal is expected to close on May 1, 2015.
SBI AXES Co., Ltd. (KOSDAQ:A950110) cancelled the acquisition of an additional 17.04% stake in BroadBand Security., Inc. on April 27, 2016.
BroadBand Security, Inc. is a Japan-based company engaged in security service business. The Companyâs services include security audit consulting service, vulnerability diagnosis service and information leakage IT countermeasure service. Information Disclosure In the security equipment management service in IT countermeasure services, it sells security equipment to customers and purchase them from manufacturers. In addition, it receives license from overseas security software company in secure mail service and malware detection service. Vulnerability assessment service sometimes outsources a part of vulnerability diagnosis for smart phones.
BROADBAND SECURITY, INC. 
