FusionData Co.,Ltd (KOSDAQ:A195440) agreed to acquire 70% stake in Daoyachts Co., Ltd. for KRW 2.5 billion on March 26, 2019. Under the terms of the deal, FusionData paid a deposit of KRW 250 million and a second payment of KRW 1.4 billion on March 26, 2019. The remaining balance of KRW 899 million will be paid on June 30, 2019. As of June 25, 2019, the first balance of KRW 449 million will be paid on June 25, 2019 and the second balance of KRW 450 million will be paid on July 5, 2019. For the year ended December 31, 2018, Daoyachts reported total assets of KRW 13.2 billion, total capital of KRW 1.1 billion, sales of KRW 7.2 billion and net profit of KRW 123 million. The board of directors of FusionData resolved the transaction on March 26, 2019. The transaction is expected to complete on June 30, 2019. As of June 25, 2019, the expected closing date of the transaction is postpone to July 5, 2019. FusionData Co.,Ltd (KOSDAQ:A195440) cancelled the acquisition of 70% stake in Daoyachts Co., Ltd. on February 21, 2020.