Japan Post Capital Co., Ltd. agreed to acquire 24.98% stake in A.I. Squared, Inc. from BroadBand Tower, Inc..
December 14, 2021
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Japan Post Capital Co., Ltd. agreed to acquire 24.98% stake in A.I. Squared, Inc. from BroadBand Tower, Inc. (JASDAQ:3776) on December 15, 2021. As per terms, will acquire 53,333 shares. Currently, BroadBand Tower, Inc. holds 70.3%, Media Do Co., Ltd. holds 19.4% and Management holds remaining 10.3% stake of A.I. Squared, Inc. and post completion BroadBand Tower, Inc. will hold 42.6% stake. For the year ending June 30, 2021, Total asset, net asset, revenue, operating loss and net loss of ¥163 million, ¥122 million, ¥387 million, ¥12 and ¥7 million respectively. The transaction is expected to complete on December 17, 2021.
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. 
