BIS Holdings Limited Liability Company completed the acquisition of 36.2% stake in BusinessOn Communication Co., Ltd from Biosmart Corporation, Omnisystem Co.,Ltd. and Bona Bank Co.,Ltd.
September 19, 2019
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BIS Holdings Limited Liability Company signed agreement to acquire 36.2% stake in BusinessOn Communication Co., Ltd (KOSDAQ:A138580) from Biosmart Corporation (KOSDAQ:A038460), Omnisystem Co.,Ltd. (KOSDAQ:A057540) and Bona Bank Co.,Ltd. for KRW 70 billion on August 12, 2019. Under the terms, BIS Holdings Limited Liability Company will acquire 3.5 million shares at KRW 21103 per share. On September 19, 2019, 3 Executive Directors including Hokwon Yoon, Hyerin Park and Jinhoon Jung, 1 outside Director named Kyungro Park and 1 auditor named Hyung - Sun Kwon have resigned and Minsang Ra and Mincheol Kang joined as internal Directors, Joonsik Yoon joined as senior Director, Yeonjae Jang appointed as external Director.
BIS Holdings Limited Liability Company completed the acquisition of 36.2% stake in BusinessOn Communication Co., Ltd (KOSDAQ:A138580) from Biosmart Corporation (KOSDAQ:A038460), Omnisystem Co.,Ltd. (KOSDAQ:A057540) and Bona Bank Co.,Ltd. on September 20, 2019. BIS Holdings Limited Liability Company acquired 1.97 million, 1.46 million and 0.03 million shares from Omnisystem Co.,Ltd, Biosmart Corporation and Bona Bank Co.,Ltd respectively. Post completion, Omnisystem Co.,Ltd, Biosmart Corporation and Bona Bank Co.,Ltd hold no stake in BusinessOn Communication Co., Ltd. KPMG acted as financial advisor to Praxis Partners.
OmniSystem Co Ltd is a Korea-based company mainly engaged in the manufacture and distribution of digital meters. The Company operates its business through three segments. The Measuring Monitoring Verification (MMV) segment is mainly engaged in the manufacture and sale of digital meter such as digital electricity meters, digital calorimeters, digital water meters, digital hot water meters, digital gas meters and others. In addition, the segment is also engaged in the supply of integrated notice management software and energy management system as well as others. The Card segment is mainly engaged in the manufacture and sale of cards such as credit cards and mobile communication cards. The Lighting segment is mainly engaged in the manufacture and sale of landscape lighting for buildings, bridges, golf courses, ski resorts, roads, as well as lighting for apartments.
BIS Holdings Limited Liability Company completed the acquisition of 36.2% stake in BusinessOn Communication Co., Ltd from Biosmart Corporation, Omnisystem Co.,Ltd. and Bona Bank Co.,Ltd.
OMNISYSTEM CO.,LTD. 
