Thinkware Systems Corporation (KOSE:A084730) agreed to acquire MIWORKS Co., Ltd. for approximately KRW 3 billion in cash on December 31, 2012. Thinkware Systems Corporation will acquire approximately 2.69 million shares of MIWORKS Co,. Ltd., representing 100% stake in MIWORKS Co,. Ltd. MIWORKS Co,. Ltd. had total assets of KRW 6.93 billion, total liabilities of KRW 2.78 billion, total stockholders' equity of KRW 4.15 billion, sales of KRW 5.07 billion and net profit of KRW 380 million for the year ended December 31, 2011. Thinkware Systems Corporation will acquire MIWORKS Co,. Ltd. to enhance technology and competitiveness for its products and services. The transaction was resolved by the Board of Directors of Thinkware Systems Corporation on December 31, 2012. The acquisition is scheduled to be completed on January 2, 2013.

Thinkware Systems Corporation (KOSE:A084730) completed the acquisition of MIWORKS Co., Ltd. on January 2, 2013.