Harmonic Drive Systems Inc. (JASDAQ:6324) and Innovation Network Corporation of Japan signed an agreement to acquire remaining 63.2% stake in Harmonic Drive AG for approximately €260 million on December 16, 2016. Harmonic Drive Systems and Innovation Network Corporation of Japan will acquire 63.2% stake in Harmonic Drive AG in the ratio of 60% and 40% respectively. As per the terms of the deal, €240 million will be paid at the time of transfer of shares and €10 million will be paid during the both the fiscal years ending 2019 and 2020. Harmonic Drive AG had total assets of €64 million, sales of €88 million, net assets of €42 million, operating income of €14 million and net income of €9 million for the year ended December 31, 2015. The deal is pending the approval of regulatory authorities and other requirements. The Board of Harmonic Drive Systems Inc. resolved the deal on December 16, 2016. The transaction was expected to close in January 2017 and postponed to February 2017 however as on March 7, 2017, the necessary approvals in Germany is still pending thus postponing the anticipated closing to be in March 2017. Paul Melot de Beauregard, Christian Masch, Kian Tauser, Steffen Nina Siewert, Nadine Hartung, Maximilian Baur and Carsten Böhm of McDermott Will & Emery LLP acted as legal advisor for INTERGLOBAL Industrieholding GmbH. The advisory expenses are estimated to be €3 million. Avi Cohen, Roopal Patel, Valentin Lefebvre, Lucia Alonso, Markus Appel , Anna Burghardt , Rico Kaßmann , Sascha Konwalski , Matthew Devey, Ulli Janssen , Ann-Catherine Hoffmann-Frisch , Jochen Laufersweiler , Robert Mai , Peter Gumnior , Anne Gaukstern , Adriana von Hardenberg, Katharina Rickert , Andreas Müller, Patrick Neidinger , Bolko Ehlgen, Atif Wolfgang Bhatti, Julia Grothaus , Michael Ehret, Maximilian Meyer , Daniel von Brevern , Kaan Gürer , Florence Forster , Takashi Shibusawa , Kenji Shimada , Ayako Nagashima , Thomas A McGrath of linklaters acted as legal advisor to Harmonic Drive Systems Inc Harmonic Drive Systems Inc. (JASDAQ:6324) and Innovation Network Corporation of Japan completed the acquisition of the remaining 63.2% stake in Harmonic Drive AG on March 22, 2017.