Broadband Tower, Inc. acquired additional 36.2% stake in JapanCableCast Inc. from JAFCO Super V-3 Investment Limited Partnership, fund of JAFCO Co., Ltd., Sogyo Kikin E Toshi Jigyo Kumiai, investment funds, venture capitals and others for ¥1.6 billion.
September 28, 2017
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Broadband Tower, Inc. (JASDAQ:3776) signed a contract to acquire additional 36.2% stake in JapanCableCast Inc. from JAFCO Super V-3 Investment Limited Partnership, fund of JAFCO Co., Ltd. (TSE:8595), Sogyo Kikin E Toshi Jigyo Kumiai, investment funds, venture capitals and others for ¥1.6 billion on September 29, 2017. The shares were acquired from 14 companies. Post completion, Broadband Tower will hold 50.4% stake in JapanCableCast and convert it to a subsidiary.
As on September 29, 2017, the Board of Directors of Broadband Tower passed a resolution for the deal. The share transfer date is from September 29, 2017 to October 10, 2017.
BroadBand Tower, Inc. is a Japan-based company engaged in data center business and broadband distribution business. The Company operates in three business segments. The Computer Platform segment is involved in data centers, cloud solutions, data solutions, and the provision of other businesses. The IoT and AI Solutions segment is engaged in the provision of AI solutions utilizing natural language analysis technology, as well as IoT business and new business. The Media Solutions segment is engaged in the development of video distribution services for consumers, and Internet cinema using IoT Square. In addition, the segment is also engaged in the establishment of communication network for cable TV operators and program providers in Japan.
Broadband Tower, Inc. acquired additional 36.2% stake in JapanCableCast Inc. from JAFCO Super V-3 Investment Limited Partnership, fund of JAFCO Co., Ltd., Sogyo Kikin E Toshi Jigyo Kumiai, investment funds, venture capitals and others for ¥1.6 billion.
BROADBAND TOWER, INC. 
