K’s Factory Co., Ltd. completed the acquisition of ilogos Co., Ltd. from Digital Adventure, Inc..
May 09, 2013 at 12:00 am EDT
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K's Factory Co., Ltd. signed a basic agreement to acquire ilogos Co., Ltd. from Digital Adventure, Inc. (JASDAQ:4772) for ¥40 million on April 17, 2013. K's Factory will acquire 6,000 shares of ilogos. In a related transaction, K's Factory Co., Ltd. signed a basic agreement to acquire Kinton Japan Co., Ltd. from Digital Adventure, Inc. for ¥30 million on April 17, 2013. Ilogos reported net assets of ¥71.47 million, total assets of ¥96.18 million, sales of ¥209.52 million, operating profit of ¥6.75 million and net loss of ¥2.04 million for the year ending December 2012. The Board of Directors of Digital Adventure resolved the transaction on April 17, 2013. The share transfer agreement is expected to be signed in early May 2013 and the transaction is expected to close on May 31, 2013. As on May 8, 2013, the expected completion date of the deal is changed from May 31, 2013 to May 9, 2013. K's Factory signed a share transfer agreement to acquire ilogos Co., Ltd. from Digital Adventure on May 8, 2013.
K's Factory Co., Ltd. completed the acquisition of ilogos Co., Ltd. from Digital Adventure, Inc. (JASDAQ:4772) on May 9, 2013.
Stream Media Corporation, formerly Digital Adventure, Inc., is engaged in provision of contents business. The Company operates in two business segments. The Rights & Media Communication segments engages in acquisition and commercialization of various rights relating to the drama broadcasting rights and distribution rights of movies, management of artists, operation of fan club and events, as well as sale of products through the Internet and convenience store. The Broadcasting segment is engaged in provision of programs and events at communication satellites (CS) broadcasting. Other business is engaged in contract management business of content distribution and music content business.
STREAM MEDIA CORPORATION 
