ZUM Internet Corp. (KOSDAQ:A239340) agreed to acquire 90.8% stake in Exponential Investments from ESTsoft Corp. (KOSDAQ:A047560) for KRW 3.1 billion on November 17, 2020.

ZUM Internet will purchase 0.44 million shares of Exponential Investments in cash. Exponential Investments has generated total assets of KRW 1.98 billion, total equity KRW 1.73 billion and net income of KRW 86 million for the year 2019. The Board of Directors of Exponential Investments resolved the transaction.

The transaction is expected to close on November 20, 2020.