Widwin Networks Corp. (KOSDAQ:A043220) agreed to acquire HLB Networks Co.,Ltd. from HLB Co., Ltd. (KOSDAQ:A028300) and 12 individuals for KRW 16 billion on September 1, 2016. Under the terms, Widwin Networks will acquire 3.99 million shares.

HLB Networks Co. had total asstes of KRW 91.7 billion, sales of KRW 38.5 billion and current net loss of KRW 7.4 billion in 2015. The Board of Widwin Networks resolved the deal on September 1, 2016.

Jiam Accounting Corporation acted as accountant for Widwin Networks.