Samsung SDS Co., Ltd. agreed to acquire SAMSUNG SNS Co., Ltd. from Samsung Electronics Co. Ltd., Jae-Yong Lee and other shareholders.
September 27, 2013 at 12:00 am
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Samsung SDS Co., Ltd. agreed to acquire SAMSUNG SNS Co., Ltd. from Samsung Electronics Co. Ltd. (KOSE:A005930), Jae-Yong Lee and other shareholders in stock on September 27, 2013. As part of the consideration, the merger ratio is decided to be 1:0.4624967. Samsung SDS Co., Ltd. is issuing 5.13 million shares to acquire 100% stake in SAMSUNG SNS Co., Ltd. Merger contract will be signed on October 1, 2013.
Samsung SDS Co., Ltd. signed an agreement to acquire SAMSUNG SNS Co., Ltd. from Samsung Electronics Co. Ltd. (KOSE:A005930), Jae-Yong Lee and other shareholders in stock on October 1, 2013. SAMSUNG SNS had total assets of KRW 327.99 billion, total liabilities of KRW 66.27 billion and total stockholders' equity of KRW 261.72 billion. The merger ratio was amended on October 14, 2013. As per the amendment, the merger ratio will be 1:0.4618115 and Samsung SDS will issue 5.12 million shares of its common stock.
The scheduled date for general meeting of shareholders of Samsung SDS Co., Ltd. is November 13, 2013. The transaction has been resolved by Board of Directors of Samsung SDS Co., Ltd. The transaction is subject to the shareholder's approval of Samsung SDS. As of November 13, 2013, the Board of Directors meeting of Samsung SDS Co., Ltd held to replace the shareholders meeting approved the transaction and the shareholders of SAMSUNG SNS Co., Ltd approved the transaction. The transaction is expected to close by December 17, 2013.
Samsung SDS Co Ltd is a Korea-based company principally engaged in the provision of information technology (IT) services. The Company operates its business through two segments. The IT Services segment is engaged in the provision of consulting and system integration (SI) services, application outsourcing and infrastructure services. Consulting and SI services include manufacturing IT services and big data, application mobile solutions. Application outsourcing and infrastructure services include data center, network, and cloud services. The Logistics Business Process Outsourcing (BPO) segment is engaged in the provision of global fourth-party logistics services including transportation, storage, unloading and management of goods.