HFR, Inc. (KOSDAQ:A230240) agreed to acquire 19.4% in nTels Co., Ltd. (KOSDAQ:A069410) from Jaehee Shim for KRW 26.5 billion on January 10, 2020. As per terms,1.3 billion shares will be acquired in cash. The consideration will be paid in two parts, KRW 2 billion on January 10, 2020 and balance in second.

The Board of Directors of nTels Co., Ltd. resolved the transaction on January 10, 2020. The deal is expected to close on March 24, 2020.