Mirae Technology Co., Ltd. (KOSDAQ:A213090) agreed to acquire 32.65% stake in Wisebirds Inc. from Futurestream Networks Co., Ltd. (KOSDAQ:A214270), Alttab Co., Ltd, E&F Moorim Birdie New Technology Business Investment Fund, Chungyeol Lee and Sangseok Lee for KRW 28 billion on December 8, 2017. Under the transaction, Mirae Technology Co., Ltd. will acquire 0.73 million shares. Consideration will be paid in cash; a deposit of KRW 2.8 billion will be paid on December 8, 2017 and remaining KRW 25.2 billion will be paid in January 15, 2018.

As per the amendment dated, December 27, 2017, the balance of KRW 25.2 billion will now be paid on 29, 2017. During the financial year ended December 2016, Wisebirds Inc. reported total assets of KRW 26 billion, net assets of KRW 12.1 billion, revenues of KRW 57.75 billion and net profit of KRW 2 billion. The transaction has been resolved by The Board of Mirae Technology Co., Ltd. The transaction is expected to be completed on January 15, 2018.

As per the amendment dated, December 27, 2017, transaction will now be completed by December 29, 2017. Deloitte Anjin LLC acted as external rating institution under the transaction.