NICE Total Cash Management Co., Ltd. (KOSDAQ:A063570) agreed to acquire 50% stake in Bgffinlink Corporation from BGFnetworks Corporation for KRW 38.5 billion on June 2, 2017. Under the terms of the transaction, NICE Total Cash Management Co., Ltd. will acquire 1 million shares of Bgffinlink Corporation. The 10% of transaction amount is to be paid on contract signing date and balance amount will be paid on completion of the transaction. Concurrently, the agreement inserted NICE Total Cash Management Co., Ltd.'s option to exercise a put option agreement with BGFnetworks Corporation for the remaining 1 million share of Bgffinlink Corporation exercisable 2 years from the closing date of the transaction. NICE Total Cash Management Co., Ltd. will use its own funds and borrowings/loans to fund the acquisition. As of December 31, 2016, Bgffinlink Corporation reported total assets of KRW 70.7 billion and total common equity of KRW 44.8 billion. As of June 2, 2017, Board of NICE Total Cash Management Co., Ltd. resolved the transaction. The transaction is expected to complete on September 1, 2017. Narae Accounting Corporation acted as an external rating institution in the transaction. NICE Total Cash Management Co., Ltd. (KOSDAQ:A063570) completed the acquisition of 50% stake in Bgffinlink Corporation from BGFnetworks Corporation on August 29, 2017. Due to the transaction, the largest shareholder of BGFfinlink corporation changed from BGFnetworks Corporation to NICE Total Cash Management Co., Ltd. and BGFnetworks Corporation representing 50% each.