Onse Telecom Corporation completed the acquisition of communication service from Sejong Telecom, Inc.
March 31, 2015 at 12:00 am EDT
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Onse Telecom Corporation (KOSDAQ:A036630) agreed to acquire communication service from Sejong Telecom, Inc. for KRW 69 billion on October 17, 2014. The communication service had total assets of KRW 175.8 billion, sales of KRW 103.6 billion, operating profit of KRW 3.6 billion and net loss of KRW 415 million in 2013. The general shareholder's meeting of Onse Telecom will be held to discuss the business acquisition on December 4, 2014. The Board of Onse Telecom resolved the deal on October 17, 2014. The deal is expected close on March 31, 2015. The shareholders of Onse Telecom approved the transaction on December 4, 2014. As on February 11, 2015, the transaction received approval by Ministry of Science, ICT and Future Planning. PricewaterhouseCoopers acted as fairness opinion provider for Onse Telecom.
Onse Telecom Corporation (KOSDAQ:A036630) completed the acquisition of communication service from Sejong Telecom, Inc. on March 31, 2015.
Sejong Telecom, Inc, formerly Onse telecom Corporation is a Korea-based company specialized in the provision of integrated communication services. The Company operates its business through three divisions: communication division, which provides telecommunication services such as international calling services, domestic calling services, wireless Internet services, Internet data center (IDC) services, data services and voice over Internet protocol (VoIP) services; system integration (SI) division, which provides SI services for information and communication network works, and product division, which distribute radio products.
SEJONG TELECOM, INC. 
