Jiransecurity Co., Ltd. (KOSDAQ:A208350) agreed to acquire 40.8% stake in MOBIGEN Inc. from Myungkyu Lee, Taesoo Kim, Hyunggeun Kim, Seyeon Lee, Juwon Moon, and Moonguk Park for KRW 13.5 billion on July 19, 2017. Under the terms, 0.12 million MOBIGEN's shares will be acquired. The consideration will be paid in cash by using retained funds of KRW 450.03 million, paid-in capital increase of KRW 6 billion by allocating to third parties, and raising KRW 7 billion through exchangeable bonds. For the year ended December 31, 2016, MOBIGEN Co., Ltd had total assets of KRW 17.92 billion, sales of KRW 19.19 billion and net profit of KRW 2.35 billion. The transaction was resolved by the Board of Jiransecurity Co., Ltd. on July 19, 2017 and is expected to close on August 4, 2017. Hanul Accounting Corporation acted as an external rating institution in the transaction. Jiransecurity Co., Ltd. (KOSDAQ:A208350) cancelled the acquisition of 40.8% stake in MOBIGEN Inc. from Myungkyu Lee, Taesoo Kim, Hyunggeun Kim, Seyeon Lee, Juwon Moon, and Moonguk Park on July 19, 2018.