Softcen Co., Ltd. agreed to acquire 60% stake in Tencloud International Science Technology Limited for approximately KRW 14.5 billion
March 09, 2020
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Softcen Co., Ltd. (KOSDAQ:A032680) agreed to acquire 60% stake in Tencloud International Science Technology Limited for approximately KRW 14.5 billion on March 9, 2020. Softcen deposited KRW 2.910 billion, paid 1st middle payment of KRW 5.8 billion, 2nd middle payment of KRW 1.35 billion and the balance of KRW 1.4395 billion. The transaction will be funded from internal held funds. Tencloud International reported total assets of CNY 3.97 billion (KRW 666.43 billion) and total capital of CNY 28.64 million (KRW 4.8 billion) on September 30, 2019. The transaction is expected to close on April 27, 2020.
SOFTCEN CO., LTD., formerly BTC KOREA Co.,Ltd., is a Korea-based company mainly engaged in the provision of hardware and software. The Company operates its business through solution, light crystal display (LCD) monitor and light emitting diode (LED) power saving lighting segments. Its solution segment involves in the provision of computers, computer peripherals and software of IBM, T-max and others. Its LCD monitor segment engages in the manufacture of LCD monitors used for computers, video players, gaming devices and other display devices. Its LED power saving lighting segment produces LED lights under the brand name L-STATION, which are used as dimmers and others. It also engages in real estate rental.
SOFTCEN CO., LTD. 
