e-Starco Company Ltd. (KOSE: A015020) agreed to acquire 90% stake in Urban Works Media Co., Ltd. for approximately KRW 790 million in cash and stock on January 30, 2012. e-Starco Company will acquire 0.36 million shares of Urban Works Media. e-Starco Company Ltd will pay KRW 675 million in cash and will issue 0.38 million shares as consideration. Urban Works Media Co., Ltd reported total assets of KRW 1.12 billion, total liabilities of KRW 962 million, total stockholders' equity of KRW 159.6 million, sales of KRW 3.82 billion and net profit of KRW 57.42 million in 2010. The Board of Directors of e-Starco Company Ltd resolved the deal on January 30, 2012. The deal is expected to be completed on February 29, 2012.

e-Starco Company Ltd. (KOSE:A015020) cancelled the acquisition of 90% stake in Urban Works Media Co., Ltd. on January 30, 2013.