TOBESOFT Co., Ltd. signed a contract to acquire an unknown minority stake in NBREDS Inc.
March 12, 2017
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TOBESOFT Co., Ltd. (KOSDAQ:A079970) signed a contract to acquire an unknown minority stake in NBREDS Inc. on March 13, 2017. Under the terms of the transaction, TOBESOFT Co., Ltd. will pay in stock with the exchange ratio of 3.055594066. As on April 7, 2017, exchange ratio changed to 3.07569665. As of April 18, 2017, the exchange ratio changed to 3.02994593. For the year ended December 31, 2016, NBREDS Inc. reported total assets of KRW 16.2 billion and net assets of KRW 10.54 billion. General meeting of shareholders of TOBESOFT is planned on May 26, 2017. The shareholders of TOBESOFT approved the transaction on May 26, 2017. The transaction is expected to be completed on June 28, 2017. Samyoung Accounting Corporation acted as an external rating institution for TOBESOFT Co., Ltd.
TOBESOFT Co., Ltd. is a Korea-based company engaged in the development, supply and consulting of software. The Companyâs products include Miplatform series, which provide integrated wired and wireless development and operation environment, XPLATFORM series, which are user interface (UI) development platforms based on rich Internet applications (RIAs), as well as X series platforms. It is also involved in the provision of repair and maintenance services for its products. The Companyâs main clients are Samsung SDS, Hyundai AutoEver and others. On February 7, 2014, the Company sold its entire shares of a wholly owned subsidiary, TOBESOFT JAPAN Co.,Ltd.
TOBESOFT CO., LTD. 