Com2uS Corporation completed the acquisition of an additional 13.8% minority take in Wysiwyg Studios Co., Ltd. from Park Kwan-woo and Park In-gyu.
September 29, 2021
Share
Com2uS Corporation (KOSDAQ:A078340) agreed to acquire an additional 13.8% minority stake in Wysiwyg Studios Co., Ltd. (KOSDAQ:A299900) from Park Kwan-woo and Park In-gyu for KRW 76.6 billion on August 24, 2021. Com2uS Corporation concluded a share transfer agreement to acquire an additional 13.8% minority stake in Wysiwyg Studios Co., Ltd. from Park Kwan-woo and Park In-gyu. Park Kwan-woo will transfer 9.48% stake which represents 1.57 million common shares for KRW 23.9 billion and Park In-gyu will transfer 4.3% stake which represents 3.6 million shares of common stock for KRW 52.7 billion. 90% of the sale price will be paid on September 30, 2021 and the remaining 10% will be paid on the day one year from the closing date of the transaction or otherwise agreed upon by the parties. After the completionCom2uS Corporation will hold 27.47% stake and Park Kwan-woo and Park In-gyu, both will hold 5.72% stake in Wysiwyg Studios Co., Ltd. The transaction is expected to close on September 30, 2021.
Com2uS Corporation (KOSDAQ:A078340) completed the acquisition of an additional 13.8% minority take in Wysiwyg Studios Co., Ltd. (KOSDAQ:A299900) from Park Kwan-woo and Park In-gyu on September 30, 2021. Com2uS Corporation will fund the acquisition from KRW 76.6 billion of its own funds.
WYSIWYG STUDIOS CO., LTD. is a Korea-based company mainly engaged in production of contents related to movies, video and broadcasting programs. The Company produces contents which can be represented by computer graphics (CG) technologies such as visual effects (VFX), animation, interactive media, virtual reality (VR), augmented reality (AR), among others.