KSY Co., Ltd. and BOK M&A Fund 1, a fund managed by BOK Investment Co., Ltd. signed a contract to acquire a 39.4% in HDPRO Co., Ltd. (KOSDAQ:A214870) from Intelligent Digital Integrated Security Co., Ltd. (KOSDAQ:A143160), Jin-Ho Jung and Young-Dal Kim for KRW 26.9 billion on February 3, 2017. Under the terms, 2.3 million shares will be acquired at KRW 11,610 per share. The sellers will sell 2.1 million, 0.11 million and 0.06 million shares respectively. KSY Co., Ltd. will acquire 1.16 million shares and BOK M&A Fund 1 will acquire 1.16 million shares. Out of the consideration, KRW 2.7 billion will be paid on February 3, 2017 and the balance on closing in the designated escrow account. The Board of Directors of Intelligent Digital Integrated Security Co., Ltd. resolved the deal on February 3, 2017.

As of March 21, 2017, the transaction was amended and Core Key Value Fund 1 and KSY Co., Ltd. signed a contract to acquire a 39.4% in HDPRO Co., Ltd. from Intelligent Digital Integrated Security Co., Ltd., Jin-Ho Jung and Young-Dal Kim for KRW 26.9 billion on March 21, 2017. As per the amended payment, apart from deposit of KRW 2.7 billion made on February 3, 2017, second payment of KRW 6 billon will be done on March 21, 2017 and balance payment of KRW 18.1 billion will be made on March 29, 2017. The payment date of balance KRW 18.1 billion extended to March 30, 2017. Post-closing, KSY Co., Ltd. After the completion of the transaction, will become the largest shareholder of HDPRO Co., Ltd. The transaction is expected to close on March 21, 2017. As announced on March 21, 2017, the transaction is expected to close on March 30, 2017. As announced on March 30, 2017, the transaction is expected to close on March 31, 2017. The balance purchase price of KRW 18.2 billion will be paid on March 31, 2017. Dure Accounting Corporation acted as an external rating institution.