Internet Research Institute, Inc. agreed to acquire IoT Square, Inc. from BroadBand Tower, Inc. for ¥7.7 million.
December 20, 2018
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Internet Research Institute, Inc. signed a contract to acquire IoT Square, Inc. from BroadBand Tower, Inc. (JASDAQ:3776) for ¥7.7 million on December 21, 2018. As of fiscal year ending June 2018, IoT Square, Inc. reported net assets of ¥360 million and total assets of ¥715 million. For the fiscal year ending June 2018, IoT Square, Inc. reported sales of ¥160 million, operating loss of ¥263 million and net loss of ¥270 million. The Board of Directors of BroadBand Tower, Inc. passed a resolution for the deal on December 21, 2018. The planned share transfer execution date is January 4, 2019.
BroadBand Tower, Inc. is a Japan-based company engaged in data center business and broadband distribution business. The Company operates in three business segments. The Computer Platform segment is involved in data centers, cloud solutions, data solutions, and the provision of other businesses. The IoT and AI Solutions segment is engaged in the provision of AI solutions utilizing natural language analysis technology, as well as IoT business and new business. The Media Solutions segment is engaged in the development of video distribution services for consumers, and Internet cinema using IoT Square. In addition, the segment is also engaged in the establishment of communication network for cable TV operators and program providers in Japan.
BROADBAND TOWER, INC. 
