AJ Networks Co.,Ltd. (KOSE:A095570) agreed to acquire 5.05% stake in Greenbell Systems, Inc. from Wooridul Huebrain Limited (KOSE:A118000) for KRW 3.8 billion on March 30, 2021. AJ Networks will acquire 12.02 million shares of Greenbell. Wooridul Huebrain will not hold any stake in Greenbell upon completion of the transaction.

As of April 16, 2021, 12.36 million shares representing 5.31% stake in Greenbell Systems. AJ Networks will acquire Greenbell reported total revenue of KRW 47.93 billion, total assets of KRW 16.7 billion, net assets of KRW 2.5 billion and net loss of KRW 64.2 million for the year ending, December 30, 2020.