Solueta Co., Ltd. (KOSDAQ:A154040) agreed to acquire DMC Co. Ltd. from DASAN Networks, Inc. (KOSDAQ:A039560), Dasan Invest Co., Ltd., Samuel Ko and DalSuk Shin for KRW 28.9 billion in cash on March 29, 2016. Under the transaction, Solueta will acquire 0.65 million shares of DMC, with DASAN Networks selling 45.5% stake for KRW 13.16 billion, Dasan Invest selling 35.5% for KRW 10.28 billion, Samuel Ko selling 10% stake for KRW 2.9 billion and DalSuk Shin 9% stake for KRW 2.61 billion.

Funds for the transaction will be raised by Solueta through strategic investment promotion. The transaction was resolved by the Board of Solueta and is expected to close on April 7, 2016.