Sewon Co., Ltd. and iA Networks Company Limited completed the acquisition of 12.9% stake in Infraware, Inc..
March 13, 2020
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Sewon Co., Ltd. (KOSDAQ:A234100) and iA Networks Company Limited (KOSDAQ:A123010) signed an agreement to acquire 12.9% stake in Infraware, Inc. (KOSDAQ:A041020) from Selvas AI Inc. (KOSDAQ:A108860) and others for KRW 12 billion on March 9, 2020. As part of the acquisition, Sewon Co., Ltd. acquired 2.37 million shares of Infraware for KRW 2,486 per share. Sewon Co., Ltd. completed the acquisition of 6.34% stake in Infraware, Inc. for KRW 5.9 billion. iA Networks Company Limited will acquire 2.45 million shares for KRW 6.1 billion. Sewon Co., Ltd. and iA Networks funded the transaction from own funds. KRW 5.9 billion was made on signing the agreement and remaining on closing.
Sewon Co., Ltd. (KOSDAQ:A234100) and iA Networks Company Limited (KOSDAQ:A123010) completed the acquisition of 12.9% stake in Infraware, Inc. (KOSDAQ:A041020) on March 13, 2020.
Sewon Co Ltd is a Korea-based company mainly engaged in the heating, ventilation and air conditioning (HAVC) related parts. The Company operates its business through three segments. The Automotive Air Conditioning Part segment is mainly engaged in the production and sale of air conditioning related parts such as header capacitors, radiator caps, evaporators and pipes. In addition, the segment also engaged in the production and sale of other auto parts such as wipers and seat motor brackets. The Synthetic Yarn segment is mainly engaged in the manufacture and sale of yarn for wigs. The Chemical segment is mainly engaged in the manufacture and sale of optical monomers.