UBIVELOX Inc (KOSDAQ:A089850) agreed to acquire Ubivelox Mobile Corp. for KRW 4.5 billion on October 17, 2022. As per the terms, UBIVELOX will issue 1 share for every 1.0624591 shares of Ubivelox share.

As of October 31, 2022, the transaction is expected to close on December 28, 2022. The transaction is expected to complete on January 20, 2023.