Modacom Co., Ltd. (KOSDAQ:A149940) agreed to acquire Cocoa Vision Inc. from a group of individuals for KRW 3.2 billion on April 22, 2016. Modacom will acquire 0.11 million shares of Cocoa Vision Inc. After the transaction, Modacom Co., Ltd will hold 100% stake in Cocoa Vision Inc. The Board of Modacom Co., Ltd. passed a resolution for the transaction on April 22, 2016. The transaction is expected to be completed on April 22, 2016.

Han Kyung Accounting Corporation acted as the external rating institution.