Miracom Inc. signed a contract to acquire Opentide Korea Corporation from Samsung SDS Co., Ltd. (KOSE:A018260), Cheil Worldwide Inc. (KOSE:A030000), S-1 Corporation (KOSE:A012750), Samsung Life Public Welfare Foundation, endowment arm and others in stock on August 24, 2015. According to the agreement, the merger ratio is 4.1393311:1 and total 3.29 million shares would be issued as consideration. Miracom Inc. will survive after the merger and Opentide Korea Corporation will be dissolved.

Opentide Korea Corporation's total assets were KRW 43.64 billion, sales were KRW 227.13 billion and net profit were KRW 3.93 billion in 2014. The Board of Directors of Miracom Inc. and Opentide Korea Corporation passed a resolution for the transaction on August 24, 2015. The transaction is subject to approval of shareholders of Miracom Inc. and Opentide Korea Corporation.

A meeting of shareholders of Miracom Inc. and Opentide Korea Corporation is scheduled for October 12, 2015. The creditors can submit their objections from October 12, 2015 to November 12, 2015. The transaction is expected to close by December 1, 2015.

PricewaterhouseCoopers Korea acted as the external evaluation institution.