Alpha Holdings, Inc. completed the acquisition of 99.85% stake in Adtech Co., Ltd. from group of sellers.
September 13, 2018
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Alpha Holdings, Inc. (KOSDAQ:A117670) agreed to acquire 99.85% stake in Adtech Co., Ltd from group of sellers for KRW 43.5 billion on August 28, 2018. Under the terms of the transaction, Alpha Holdings, Inc. will acquire 4.23 million shares of Adtech Co., Ltd. Out of total consideration, KRW 4.35 billion was deposited between July 2, 2018 and August 23, 2018 as execution guarantee deposit, KRW 9.03 billion will be paid on October 12, 2018, and remaining will be paid on October 22, 2018 through cash of KRW 21.12 billion and convertible bonds of KRW 9 billion.
For the year ended December 31, 2017, Adtech Co., Ltd. reported total assets of KRW 36.3 billion, total capital of KRW 34.8 billion, sales of KRW 17.6 billion and net profit of KRW 2.9 billion. The transaction was resolved by the Board of Alpha Holdings, Inc. on August 28, 2018. The transaction is expected to close on October 22, 2018. On September 14, 2018, the transaction is expected to close on September 14, 2018. Shinwha Accounting Corporation acted as external rating institution.
Alpha Holdings, Inc. (KOSDAQ:A117670) completed the acquisition of 99.85% stake in Adtech Co., Ltd. from group of sellers on September 14, 2018. Under the terms, Alpha Holdings has paid the remaining consideration comprising cash of KRW 9.03 billion and KRW 21.12 billion for other shareholders balance and management rights equity balance respectively and KRW 9 billion through issued convertible bonds on September 14, 2018.
Alpha Holdings, Inc., formerly Alphachips Corp., is a Korea-based company engaged in the manufacture of system semiconductors. The Companyâs product portfolio consists of security integrated circuits (ICs), including security camera ICs and encryption ICs; mobile multimedia ICs, including multimedia ICs and camera signal processor ICs; mobile communication ICs, including digital multimedia broadcasting (DMB) ICs and wireless ICs; display ICs, including timing controller ICs, and other ICs, such as printer processor ICs. It also provides system on chip (SoC) design and development services.
ALPHA HOLDINGS, INC. 
