Connectwave Co., Ltd. (KOSDAQ:A119860) agreed to acquire remaining 6.25% stake in Play Auto Co., Ltd. for KRW 10.5 billion on March 29, 2023. 30,000 Number of shares being acquired. Post acquisition Connectwave hold 480,000 shares with 100% stake in Play Auto.

The consideration to be paid in cash. For December 31, 2022, Play Auto has Total assets of KRW 78.840 billion, Net profit of KRW 8.786 billion and sales of KRW 55.175 billion. The transaction is expected to close on March 31, 2023.