Goodcen Co., Ltd. (XKON : A243870) entered into a contract to acquire Bizen Co., Ltd. from a group of shareholders for KRW 15.6 billion.
April 08, 2021
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Goodcen Co., Ltd. (XKON : A243870) entered into a contract to acquire Bizen Co., Ltd. from a group of shareholders for KRW 15.6 billion on April 9, 2021. As of the merger date, 10.1850394 of Goodsen's common stock will be issued for each common stock held by common stock shareholders registered in Bizen's stockholder list. Goodcen Co., will issue 1.13 million shares as part of consideration. Payment will be made within one month from the end of the stock purchase request period. Goodsen will absorb Bizen. Bizen reported total assets of KRW 11.2 billion, total equity of KRW 4.8 billion, operating profit of KRW 4.74 billion and net income of KRW 3.85 billion for the year 2020. The Board of Directors of Goodcen and Bizen have resolved the transaction. The transaction is expected to close on June 28, 2021. The effect of this merger is expected to have a positive impact on the financial and business of the merged company.
Goodcen Co., Ltd. is a Korea-based company mainly engaged in the provision of maintenance services of public cloud storages. The Company is involved in the provision of public cloud storage services and maintenance services of public cloud storages. In addition, the Company provides construction enterprise resource planning (ERP) systems, as well as unified communications and collaboration solutions (UC&Cs). The construction ERP includes solutions under the name of e-Novator, as well as safety management systems. The e-Novator provides the solutions related to mails, payment, as well as collaboration and information sharing for employee communication. The UC&Cs include enterprise knowledge portals (EKPs), as well as collaborative portal servers (CPSs).