Bugs Corporation (KOSDAQ:A104200) and iRiver Ltd (KOSDAQ:A060570) acquired Groovers on August 12, 2016. Bugs Corporation will hold 53.9% stakes and iRiver Ltd will hold 44.2% stakes in Groovers.

Bugs Corporation (KOSDAQ:A104200) and iRiver Ltd (KOSDAQ:A060570) completed the acquisition of Groovers on August 12, 2016.