IRidge, Inc. cancelled the acquisition of 14% stake in DG Communications Co., Ltd. from Digital Garage, Inc..
May 10, 2019
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iRidge, Inc. (TSE:3917) agreed to acquire 14% stake in DG Communications Co., Ltd. from Digital Garage, Inc. (TSE:4819) for ¥27 million on May 11, 2018. Under the terms, iRidge, Inc. will acquire 0.09 million shares through this transaction and the consideration will be paid in stock. Upon completion, Digital Garage, Inc. will continue to hold 81.5% stake in DG Communications Co., Ltd. In a related transaction, iRidge, Inc. will acquire 80% stake in DG Marketing Design Co., Ltd., a newly established company that is scheduled to be established through the incorporation-type company split of Digital Garage, Inc. The combined consideration for the aforementioned transactions of ¥1.4 billion will be paid by issuance of 0.94 million shares of iRidge, Inc. The transaction was resolved by the Board of Digital Garage, Inc. on June 22, 2018. The stock transfer agreement is expected to be executed by June 25, 2018. The consideration payment will be done on May 30, 2018. The transaction is expected to complete by August 1, 2018.
iRidge, Inc. (TSE:3917) cancelled the acquisition of 14% stake in DG Communications Co., Ltd. from Digital Garage, Inc. (TSE:4819) on May 11, 2019.
iRidge, Inc. is a Japan-based company mainly engaged in the provision of online to offline (O2O) solution, as well as planning and support on attracting customers and sales promotion. The O2O support business is mainly engaged in attracting customers and sales promotion to actual stores, using smart phone and providing information to consumers through smart phone application incorporated the Company-owned solutions. The Company has O2O solution platform with the name of popinfo, providing the information distribution function, user management function, membership card function, point management function, coupon management function and other basic functions for attracting customers and sales promotion.
IRIDGE, INC. 
