Hancom Secure Inc. (KOSDAQ:A054920) signed a merger contract to acquire remaining stake in Hancom GMD Inc. (KOSDAQ:A077280) for KRW 36.2 billion on February 7, 2018. As per merger consideration, Hancom Secure Inc will issue 6.9 million shares at an exchange ratio of 1: 0.6039583. Post completion, Hancom GMD Inc. will be dissolved and the merged business will operate as Hancom Secure Inc. The Board of Directors of Hancom GMD Inc. resolved the deal on February 7, 2018.

The meeting of shareholders of Hancom GMD Inc. is due on March 29, 2018. Creditors can submit their objections from March 31, 2018 to April 30, 2018. On March 29, 2018, the transaction was approved by the shareholders of Hancom GMD Inc. and Hancom Secure Inc. The deal is expected to close on May 1, 2018.