Silicon Works Co., Ltd. (KOSDAQ:A108320) agreed to acquire part of system IC business section from Lusem Co., Ltd. for KRW 6 billion on February 6, 2015. The consideration will be paid within one month from the closing date of share acquisition period. As of September 2014, the business had asset amount of KRW 42.8 billion, sales of KRW 174.2 billion and amount of debts of KRW 26.8 billion. In case the approval of the business acquisition in the general meeting of shareholders of Lusem Co is rejected, the share acquisition right will be dissolved. The resolution date of Board of Directors of Lusem Co., Ltd and Silicon Works Co., Ltd., parent of Lusem Co., Ltd. is February 6, 2015. The tentative general meeting of stockholders of Lusem Co., Ltd for the approval of business acquisition/sales is March 13, 2015. The tentative general meeting of stockholders of Silicon Works Co., Ltd. for the approval of business acquisition/sales is March 19, 2015. As of March 19, 2015, the shareholders of Silicon Works Co., Ltd approved the transaction. The scheduled acquisition date is April 1, 2015. Ernst & Young, Korea acted as external evaluating agency. PricewaterhouseCoopers acted as financial advisor for LG.

Silicon Works Co., Ltd. (KOSDAQ:A108320) completed the acquisition of part of system IC business section from Lusem Co., Ltd. on April 1, 2015.