KT Corporation (KOSE:A030200) agreed to acquire Alti Media Corporation from Alticast Corporation (KOSDAQ:A085810) for KRW 10 billion on April 12, 2021. Under the terms, KT will acquire 1 million shares of Alti Media. The consideration will be paid in cash. Post completion, Alticast Corporation will not hold any shares in Alti Media. Alti Media reported total assets of KRW 21 billion, total liabilities of KRW 6.9 billion, total equity of KRW 14.2 billion, revenue of KRW 22.7 billion and net income of KRW 728.3 million for the year ended December 30, 2020. The Board of Alticast resolved this transaction on April 12, 2021. The transaction is expected to close on June 30, 2021. As of June 30, 2021, the transaction is expected to close on August 31, 2021. As of August 31, the transaction is expected to close on October 31, 2021. As of October 22, 2021, consideration for the transaction is KRW 10 billion. The transaction is expected to close on October 22, 2021.

KT Corporation (KOSE:A030200) completed the acquisition of Alti Media Corporation from Alticast Corporation (KOSDAQ:A085810) on December 2, 2021. Alti Media also completed its incorporation to KT group.