BTRI Corporation announced that it expects to receive KRW 1 billion in funding from Chips&Media, Inc.
September 26, 2016
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Btri Corporation announced a private placement of 20,000 common shares at KRW 50,000 per share for gross proceeds of KRW 1,000,000,000 on September 27, 2016. The shares will be issued to new investor Chips&Media, Inc. (KOSDAQ:A094360). Pursuant to the transaction, the investor shall hold 16.67% stake in the company. The transaction is expected to be completed by September 29, 2016. The transaction has been approved by board of directors of the company. The company reported total assets of KRW 16,000,000, total liabilities of KRW 0 , total capital of KRW 16,000,000, capital of KRW 50,000,000, sales of KRW 4,000,000, and net profit of KRW -34,000,000 for the year ended December 31, 2015.
Chips&Media, Inc. a Korea-based company principally engaged in the development of system software. The Company mainly operates its business through provision of video codec intellectual property (IP) solutions for multimedia devices. The Companyâs video codec IP solutions cover the full line-up of video standards such as motion picture experts group (MPEG)-2, MPEG-4, H.263, H.264/advanced video coding (AVC) and VC-1 from common image format (CIF) to high definition (HD) resolution. Its IP solutions are applied in the multimedia system on chip (SoC) as well as video/image. Its products consist of BODA video cores decode multiple format, CODA cores and others, which are applied in three dimension (3D) digital televisions (TVs), high-end set top boxes, digital camcorders, smart TVs, smart phones, tablets, digital video recorders (DVRs) and others.
CHIPS&MEDIA, INC. 
