SGA Solutions Co., Ltd. (KOSDAQ:A184230) agreed to acquire Viruschaser Co Ltd for KRW 5 billion in stock on April 25, 2016. SGA Solutions Co., Ltd. signed a contract to acquire Viruschaser Co Ltd on April 27, 2016. Under the terms, the merger ratio is 1:0.1857996 between SGA and Virus.

SGA will issue approximately 1.68 million new shares of its common stock as consideration. Upon closing, SGA will survive and Virus will be dissolved. The merger effective date is expected to be June 28, 2016 and registered date will be June 29, 2016.

Viruschaser recorded total asset of KRW 5.96 billion, sales of KRW 3.85 billion, net liabilities of KRW 401.18 million and net loss of KRW 2.32 billion in 2015. The merger contract signing date is April 27, 2016. The Board of SGA passed the resolution for the transaction on April 25, 2016.

As on May 26, 2016, the board of SGA Solutions and Viruschaser approved the deal. The transaction is expected to close on June 28, 2016. Samdo Accounting Corporation is acting as an external rating institution.