fonfun corporation (TSE:2323) agreed to acquire SMS transmission business of Kronos Co., Ltd for ¥15 million on December 20, 2023. Transaction is financed considering payment using cash on hand. SMS transmission business reported Turnover of ¥58 million and EBIT of ¥7 million on December 31, 2022.

The transaction is expected to complete on January 1, 2024. As of December 28, 2023 The transaction is expected to complete on February 1, 2024. As of January 24, 2024, fonfun changed the acquisition price to ¥15 million from ¥25 million.

The planned contract date is January 31, 2024.