Infraware, Inc. (KOSDAQ:A041020) agreed to acquire 8.67% stake in SELVAS Healthcare, Inc. (KOSDAQ:A208370) from Selvas AI Inc. (KOSDAQ:A108860) for KRW 9 billion on April 27, 2018. The consideration will be paid in kind by issuance of 4.8 million new shares of Infraware, Inc to acquire 1.14 million shares of SELVAS Healthcare, Inc. Post acquisition; Selvas AI Inc will reduce the shareholding from 9.6 million shares (72.8%) to 8.4 million shares (64.18%). The board passed a resolution on the transaction on April 27, 2018.

The transaction is expected to be completed on April 30, 2018. Osung Accounting Corporation acted as the external rating institution.