Medius Holdings Co., Ltd. (JASDAQ:3154) signed a share exchange agreement to acquire 21.67% stake in Xiot, K.K. from eleven individual shareholders for ¥75.1 million in stock on March 19, 2014. Medius Holdings will acquire 2000 shares of Xiot at an exchange ratio of 13.7 and Medius Holdings will issue 27,400 shares as consideration. Xiot, K.K. reported net assets of ¥298 million, total assets of ¥1.16 billion, sales of ¥2.67 billion, operating profit of ¥53 million and net loss of ¥50 million for year ended July 31, 2013.

The transaction is subject to approval by shareholders of Xiot, K.K. at a meeting to be held on May 10, 2014. The transaction was resolved by Board of Directors of Medius Holdings and Xiot, K.K. on March 19, 2014. The transaction is expected to be completed on July 2, 2014.

Square Consulting Co., Ltd. acted as independent valuer for Medius Holdings Co., Ltd.