Ubiquitous AI Corporation agreed to acquire remaining 89.84% stake in Grape Systems Inc. from Kiyotaka Kudo, three directors of Grape Systems and other minority shareholders for ¥123 million.

Ubiquitous AI Corporation (TSE:3858) agreed to acquire remaining 89.84% stake in Grape Systems Inc. from Kiyotaka Kudo, three directors of Grape Systems and other minority shareholders for ¥123 million on September 7, 2023. Grape Systems Inc. reported Total revenues of ¥1.04 billion, Total assets worth ¥777 million, EBIT of ¥31.3 million, Net Income of ¥13.7 million and Total Common equity of ¥93.1 million on March 31, 2023. Transaction is already been approved by Ubiquitous AI Corporation board of directors'.

Transaction is expected to complete on October 2, 2023.