Paradisepoint Inc. agreed to acquire 4.6% stake in ED Co., Ltd. (KOSDAQ:A033110) from Soosung Co.,Ltd. (KOSDAQ:A084180) for KRW 5 billion on March 16, 2018. As per terms, 2.5 million shares will be acquired. Out of the consideration, KRW 500 million will be paid as deposit on March 16, 2018 and balance on June 29, 2018. Post completion, Soosung Co.,Ltd. will hold 7.6% stake. On March 28, 2018, the terms of the transaction were revised. Paradisepoint Inc. will now acquire 1.25 million shares for KRW 2.5 billion. Out of total consideration, KRW 250 million will be deposited on March 28, 2018 and remaining KRW 2.25 billion will be paid on January 5, 2019. As on January 7, 2019, the deal terms were further revised. Paradisepoint Inc. will now acquire 1.25 million shares for approximately KRW 560 million. As of January 7, 2019, Soosung Co.,Ltd. will hold 0.5 million shares of ED Co., Ltd. The Board of Directors of Soosung Co.,Ltd. resolved the deal on March 16, 2018. The deal is expected to close on June 29, 2018. As of January 7, 2019, the transaction is expected to complete between January 8, 2019 to February 7, 2019. Soosung Co.,Ltd. will use the funds to secure operating funds.

Paradisepoint Inc. cancelled the acquisition of 2.3% stake in ED Co., Ltd. (KOSDAQ:A033110) from Soosung Co.,Ltd. (KOSDAQ:A084180) on February 7, 2019.