Ekitan & Co., Ltd. entered into an agreement to acquire Smartphone In-Feed Advertising Business from Maverick., Inc. for ¥780 million.
February 16, 2021
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Ekitan & Co., Ltd. (TSE:3646) entered into an agreement to acquire Smartphone In-Feed Advertising Business from Maverick., Inc. for ¥780 million on February 17, 2021. Post completion, the acquired business will be formed as a company under the name of Circua Co., Ltd. Under the terms, Ekitan & Co. will acquire 5,000 shares in Circua Co., Ltd. The consideration will be paid in cash. In 2020, Smartphone In-Feed Advertising Business of Maverick., Inc. reported sales of ¥2.25 billion, operating of ¥104 million. In addition, book value of assets split by Maverick due to the company split will be ¥50 million and book value of liabilities will be ¥0 million as of November 30, 2020. As on February 17, 2021, at the Board of Directors meeting, Ekitan & Co. resolved this transaction. The transaction is expected to close on April 1, 2021.
Ekitan & Co.,Ltd. is a Japan-based company providing information contents services. The Company operates in two business segments. The Consumer business develops a transit guide service Station Search Transit Information for individuals through mobile phones including smart phones. The Business for Corporate Users provides transit guidance services provided by the Company as application service provider (ASP) service for corporations such as mobile carriers, railroad companies and map companies.