Evolable Asia Corp. completed the acquisition of 59.6% stake in Magmag, Inc. from New Horizon Fund 2 of New Horizon Capital Co., Ltd.
September 29, 2017
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Evolable Asia Corp. (TSE:6191) agreed to acquire 59.6% stake in Mag2 Co., Ltd. from New Horizon Fund 2 of New Horizon Capital Co., Ltd. for ¥800 million on September 11, 2017. The transaction has been resolved by the Board of Directors of Evolable Asia Corp. on September 11, 2017. The contract for the transaction was signed on September 12, 2017 and the transaction is expected to complete September 29, 2017. Mag2 Co., Ltd. had total assets of ¥603 million and net assets of ¥458 million as of September 2017.
Evolable Asia Corp. (TSE:6191) completed the acquisition of 59.6% stake in Mag2 Co., Ltd. from New Horizon Fund 2 of New Horizon Capital Co., Ltd. in September, 2017.
Magmag Inc operates platform business, media advertising business and other businesses. The platform business is centered on the mail magazine distribution platform. Its main services include paid e-mail newsletters, free e-mail newsletters, live distribution services and the content platform mine. The media advertising business operates web media such as MAG2 NEWS, MONEY VOICE, TRiP EDiTOR, by them, and Web media contents, advertising space sales service for e-mail magazine content. Other businesses include event planning and management.
MAGMAG, INC. 
