IRiver Limited completed the acquisition of Sm Mobile Communications Co., Ltd from SK Telecom Co., Ltd., Dream Maker Entertainment Limited, Culture Technology Group Asia Co., Ltd., and S.M. Entertainment Co., Ltd..
October 30, 2017
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iRiver Limited (KOSDAQ:A060570) signed a merger contract to acquire Sm Mobile Communications Co., Ltd from SK Telecom Co., Ltd. (KOSE:A017670), Dream Maker Entertainment Limited, Culture Technology Group Asia Co., Ltd., and S.M. Entertainment Co., Ltd. (KOSDAQ:A041510) for KRW 22.6 billion on July 17, 2017. The consideration is payable in 4.2 million new shares of iRiver Limited at an exchange ratio of 1:1.6041745. In a related deal, iRiver Limited also agreed to acquire S.M. LIFE DESIGN COMPANY JAPAN INC. Sm Mobile Communications Co., Ltd will be dissolved in the statutory merger. For the year ended December 31, 2016, Sm Mobile Communications Co., Ltd reported total assets of KRW 19.5 billion, sales of KRW 580.3 million and net loss of KRW 1.9 billion. The Board of Directors of iRiver Limited resolved the deal on July 17, 2017. Creditors can submit their objections from August 29, 2017 to September 29, 2017. The shareholders of iRiver Limited approved the transaction on August 29, 2017. The deal is expected to close on October 1, 2017. EY Ernst & Young Han Young acted as external rating institution.
iRiver Limited (KOSDAQ:A060570) completed the acquisition of Sm Mobile Communications Co., Ltd from SK Telecom Co., Ltd. (KOSE:A017670), Dream Maker Entertainment Limited, Culture Technology Group Asia Co., Ltd., and S.M. Entertainment Co., Ltd. (KOSDAQ:A041510) on October 1, 2017.
Dreamus Company, formerly IRIVER LIMITED, is a company mainly engaged in the manufacturing and sale of sound and video equipment. Along with subsidiaries, the Company operates its business through six segments. Astell & Kern Business segment is involved in the production and sale of portable audio players. The Artificial Intelligence (AI) Device Business segment mainly provides AI speakers. The Life Style Business segment is engaged in the planning and sale of home appliances including smart scales and handy fans and sound equipment. The Celebrity Merchandise (MD) segment is involved in the manufacturing and sale of MD products. The Content Business segment is engaged in the supply and distribution of music and digital contents. The Other segment is involved in the development and supply of digital contents and the provision of sound sources services.
IRiver Limited completed the acquisition of Sm Mobile Communications Co., Ltd from SK Telecom Co., Ltd., Dream Maker Entertainment Limited, Culture Technology Group Asia Co., Ltd., and S.M. Entertainment Co., Ltd..
DREAMUS COMPANY 