Leenos Corp. (KOSDAQ:A039980) signed an external valuation contract to acquire 70% stake in DreamCIS Inc. from Choi Won-Jung for KRW 13.1 billion in cash on December 23, 2013. Leenos Corp.

signed an agreement to acquire 70% stake in DreamCIS Inc. from Choi Won-Jung on January 17, 2014. Leenos Corp. will acquire 0.07 million shares in DreamCIS.

After the transaction, Choi Won-Jung will still hold 4.7% stake in DreamCIS. The resolution of the transaction was passed by Board of Directors of Leenos Corp. on January 17, 2014.

The transaction is expected to close on February 14, 2014. The deposit payment was made on January 21, 2014. On February 14, 2014, the expected closing of the transaction was changed to March 31, 2014 from February 14, 2014.

According to Leenos Corp, the expected transaction settlement date of the acquisition was updated to March 26 from March 31, 2014.