Hangzhou Tigermed Consulting Co., Ltd. (SZSE:300347) signed letter of intent to acquire 70% stake in DreamCIS, Inc. from Leenos Corp. (KOSDAQ:A039980) for KRW 27 billion on June 6, 2015. A total of 0.07 shares will be acquired as part of this transaction.

Hangzhou Tigermed Consulting Co., Ltd. (SZSE:300347) agreed to acquire 98.14% stake in DreamCIS, Inc. from Leenos Corp. (KOSDAQ:A039980) and Won-Young Choi for KRW 32.2 billion on July 10, 2015. A deposit of KRW 8.1 billion was made on July 10, 2015 and balance of KRW 18.9 billion will be paid on October 12, 2015. The date of the balance payment and closing date of the transaction may change as stated in the contract. DreamCIS, Inc. reported total assets of KRW 15.5 billion, total owner's equity of KRW 10.2 billion, revenue of KRW 18.3 billion, operating profit of KRW 1 billion and net profit of KRW 660.9 million for the year ending December 31, 2014.

Expected closing is on October 12, 2015. Serim Accounting Corporation acted as valuer for the transaction.

Hangzhou Tigermed Consulting Co., Ltd. (SZSE:300347) completed the acquisition of 98.14% stake in DreamCIS, Inc. from Leenos Corp. (KOSDAQ:A039980) and Won-Young Choi on September 22, 2015.