TOBESOFT Co., Ltd. cancelled the acquisition of 40.96% stake in NBREDS Inc. from Dae-Geun Jung and Sog Holdings Co., Ltd.
January 18, 2017
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TOBESOFT Co., Ltd. (KOSDAQ:A079970) agreed to acquire 40.96% stake in NBREDS Inc. from Dae-Geun Jung and Sog Holdings Co., Ltd. for KRW 12 billion on January 19, 2016. TOBESOFT will acquire 0.55 million shares of NBREDS. NBREDS Inc. reported total assets of KRW 10.3 billion, sales of KRW 7.03 billion, total capital of KRW 5.15 billion and net profit of KRW 340 million for the year 2015. The transaction is expected to complete on April 15, 2016. Samyoung Accounting Corporation acted as the external valuation institution for the transaction.
TOBESOFT Co., Ltd. (KOSDAQ:A079970) cancelled the acquisition of 40.96% stake in NBREDS Inc. from Dae-Geun Jung and Sog Holdings Co., Ltd. on January 19, 2017.
TOBESOFT Co., Ltd. is a Korea-based company engaged in the development, supply and consulting of software. The Companyâs products include Miplatform series, which provide integrated wired and wireless development and operation environment, XPLATFORM series, which are user interface (UI) development platforms based on rich Internet applications (RIAs), as well as X series platforms. It is also involved in the provision of repair and maintenance services for its products. The Companyâs main clients are Samsung SDS, Hyundai AutoEver and others. On February 7, 2014, the Company sold its entire shares of a wholly owned subsidiary, TOBESOFT JAPAN Co.,Ltd.
TOBESOFT CO., LTD. 
