Neptune Company (KOSDAQ:A217270) entered into an agreement to acquire an additional 95.24% stake in Ad(X) Inc. from Kakao Games Corp. (KOSDAQ:A293490) and others for approximately KRW 200 billion. on August 1, 2022.

Neptune will issue 99.06 shares for every share in Ad(X) Inc. The transaction is subject to approval from shareholders of Neptune company and Ad(X) Inc. It is expected that the merger will have a positive impact on the finances of the merged company and strengthen its ability to raise funds by reducing unnecessary resource waste by establishing an integrated system for each business sector, and by efficiently utilizing human and material resources to increase management efficiency. The transaction is expected to close by November 1, 2022