AltPlus Inc. (TSE:3672) entered into basic agreement to acquire Game Business of Axel Mark Inc. (TSE:3624) on June 18, 2020. As per terms of transaction, AltPlus Inc. and Axel Mark Inc. will enter into agreement in July, 2020. AltPlus Inc. (TSE:3672) entered into a contract to acquire Game Business from Axel Mark Inc. (TSE:3624) for ¥20 million.

As on July 31, 2020, As for the transfer method, Axel Mark will transfer business to a newly established company with a name of Axel Mark Plus Inc. and then transfer all shares of the company to AltPlus. As on September 30, 2019, Game Business of Axel Mark Inc. reported revenue of ¥734 million and net loss of ¥506 million and as on September 30, 2019, Game Business reported total assets of ¥156 million and total liability of ¥1 million. As on July 31, 2020, Axel Mark resolved and approved this transaction at the Board of Directors meeting.

Transaction is expected to be complete in September 2020. As on July 31, 2020, The deal is expected to close on September 1, 2020.