Soltworks Co., Ltd. (KOSDAQ:A230980) agreed to acquire 88.75% stake in Korea Media Tech Co., Ltd from Gil, Yongcheol, Baek Changki and Baek, Choongja for KRW 3.6 billion on October 16, 2017. Under the terms, Soltworks will acquire 0.07 million shares and consideration will be paid in cash. Gil, Yongcheol will receive KRW 3.25 billion for selling 0.06 million shares (80% stake), Baek Changki will receive KRW 50.70 million for selling 1000 shares (1.25% stake) and Baek, Choongja will receive 304.23 million for selling 6000 shares (7.5% stake). The transaction is funded by retained funds. For the year ended December 31, 2016, Korea Media Tech Co., Ltd reported total assets of KRW 5.1 billion, net assets of KRW 4.9 billion, sales of KRW 3.06 billion and Net profit of current period of KRW 577 million. The transaction is resolved by the board of directors of Soltworks Co., Ltd on October 16, 2017. The transaction is expected to close on October 16, 2017. Hyundai Accounting Corporation acted as External Rating Institution.