ESTsoft Corp. (KOSDAQ:A047560) agreed to acquire an additional 8.98% stake in ZUM Internet Corp. (XKON:A229480) from Skylake 4th 0901 PEF, a fund managed by SkyLake Investment Co.

for KRW 3.9 billion on December 4, 2017. ESTsoft Corp. signed an agreement to acquire an additional 8.98% stake in ZUM Internet Corp.

from Skylake 4th 0901 PEF, a fund managed by SkyLake Investment Co. on December 5, 2017. Under the terms, ESTsoft Corp.

will acquire 0.97 million shares. The consideration will be paid in cash. Post acquisition, ESTsoft Corp.

will hold 8.58 million shares, representing 79.7% stake in ZUM Internet Corp. The transaction was resolved by the Board of Directors of ESTsoft Corp. on December 4, 2017 and is expected to close on December 5, 2017.

As per the amendment report dated December 5, 2017, the transaction is now expected to be completed by December 12, 2017.