MDS Technology Co., Ltd. acquired 25.72% stake in CoreBell System Inc.
December 06, 2017
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MDS Technology Co., Ltd. (KOSDAQ:A086960) agreed to acquire 25.72% stake in CoreBell System Inc. for KRW 1.7 billion on November 28, 2017. MDS Technology Co., Ltd. will acquire 0.03 million shares at the price of KRW 55,000 per share. In related transaction, MDS Technology Co., Ltd. will acquire 0.09 million new shares of CoreBell System Inc. at the price of KRW 26,500 per share. During the year ended December 31, 2016, CoreBell System Inc. had total assets of KRW 4.11 billion, sales of KRW 988 million, and net profit of KRW 247 million. Board of Directors of MDS Technology Co., Ltd. made a resolution in favor of the transaction on November 28, 2017. The scheduled acquisition date is December 11, 2017.
MDS Technology Co., Ltd. completed the acquisition of 25.72% stake in CoreBell System Inc. on December 7, 2017.
MDS Tech Inc, formerly Hancom MDS Inc, is a Korea-based company mainly engaged in provision of embedded software development and embedded development solutions. The Company operates its business through five segments. The Innovation Business Manager segment mainly provides solutions and services such as autonomous driving, advanced driver assistance system development solutions and embedded operating systems. The Convergence Business Manager segment provides solutions and services such as development solutions and system automation solutions. Hancom's Intelligence segment provides solutions and services such as core solutions for the 4th industry, artificial intelligence (AI) platforms, and Internet of Things (IoT) solutions. The Domestic Subsidiary segment operates businesses such as communication modules, robots, and shared services. The Overseas Subsidiary segment provides services such as embedded operating systems (OS) to China, Australia, Singapore, and India.
MDS TECH INC. 
