Advanced Digital Chips Inc. (KOSDAQ:A054630) agreed to acquire 61.05% stake in KNC Korea Co., Ltd from Gun-Hee Bae and Geum-Jung Lee for KRW 2 billion in cash on December 8, 2015. Advanced Digital Chips Inc. acquired 0.73 million shares. As of December 10, 2015, Gun-Hee Bae and Geum-Jung Lee will receive KRW 499.99 million each as per the agreement.

As of January 4, 2016, Gun-Hee Bae and Geum-Jung Lee will receive KRW 500 million each as per the agreement. After the transaction, Gun-Hee Bae and Geum-Jung Lee will hold 0.37 million shares each representing 30.53% stake respectively. The fund used for transaction is the fund raised through paid-in capital increase.

As of December 31, 2014, KNC Korea Co., Ltd's total assets were KRW 6.59 billion, total liabilities were KRW 5.19 billion, sales amount were KRW 7.07 billion and net profit was KRW 13 million. The transaction is expected to complete by January 4, 2016. Jung Hyeon Accounting Corporation acted as the external Rating Institution.