Bemate Co., Ltd. agreed to acquire 99.9% stake in KRG Soft Corp. from Mgame Corp. (KOSDAQ:A058630) for KRW 0.37 million on November 27, 2015.

Mgame will sell 0.37 million shares in the transaction. KRG Soft Corp. reported total assets of KRW 2.78 billion, sales of KRW 2.17 billion and net loss of KRW 1.33 billion for the period ending December 31, 2014.

The transaction is subject to reporting to Fair Trade Commission. The Board of Directors passed a resolution for the transaction. As of December 24, 2015, the consideration is revised to KRW 5.8 million.

The transaction is expected to close on November 30, 2015. KPMG Samjong Accounting Corporation acted as an accountant for KRG Soft Corp.