BroadBand Tower, Inc. concluded a share exchange agreement to acquire TSS LINK, Inc. from Nippon Technology Venture Partners i - V, Nippon Technology Venture Partners i - VI, Nippon Technology Venture Partners i - VII, Nippon Technology Venture Partners i – VII A, funds mange by Nippon Technology Venture Partners Ltd. and Yuzo Hayashi for approximately ¥170 million.
December 20, 2018
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BroadBand Tower, Inc. (JASDAQ:3776) concluded a share exchange agreement to acquire TSS LINK, Inc. from Nippon Technology Venture Partners i - V, Nippon Technology Venture Partners i - VI, Nippon Technology Venture Partners i - VII, Nippon Technology Venture Partners i – VII A, funds mange by Nippon Technology Venture Partners Ltd. and Yuzo Hayashi for approximately ¥170 million on December 21, 2018. The consideration will be payable in stock, BroadBand Tower will issue 0.62 million shares for 0.4 million shares of TSS LINK as exchange ration of 1.68. Upon completion, TSS LINK, Inc will become a wholly-owned subsidiary of BroadBand Tower. As per the terms of the transaction BroadBand Tower will acquire 13.9% stake from Yuzo Hayashi, 8.7%, 8.6%, 8.3% and 5.9% stake from Nippon Technology Venture Partners i - V, Nippon Technology Venture Partners i – VII A, Nippon Technology Venture Partners i - VII and Nippon Technology Venture Partners i - VI respectively.
For the fiscal year ended March 31, 2018, TSS LINK reported total assets of ¥ 167 million, net assets of ¥107 million, sales of ¥138 million, operating income of ¥34 million and net income of ¥32 million. The transaction has been resolved by Board of Directors of BroadBand Tower. The transaction is subject to approval of shareholders of BroadBand Tower, scheduled on January 26, 2019. The transaction is expected to close on January 31, 2018. Rookie Co., Ltd. acted as appraiser for BroadBand Tower in the transaction.
BroadBand Tower, Inc. is a Japan-based company engaged in data center business and broadband distribution business. The Company operates in three business segments. The Computer Platform segment is involved in data centers, cloud solutions, data solutions, and the provision of other businesses. The IoT and AI Solutions segment is engaged in the provision of AI solutions utilizing natural language analysis technology, as well as IoT business and new business. The Media Solutions segment is engaged in the development of video distribution services for consumers, and Internet cinema using IoT Square. In addition, the segment is also engaged in the establishment of communication network for cable TV operators and program providers in Japan.
BroadBand Tower, Inc. concluded a share exchange agreement to acquire TSS LINK, Inc. from Nippon Technology Venture Partners i - V, Nippon Technology Venture Partners i - VI, Nippon Technology Venture Partners i - VII, Nippon Technology Venture Partners i – VII A, funds mange by Nippon Technology Venture Partners Ltd. and Yuzo Hayashi for approximately ¥170 million.
BROADBAND TOWER, INC. 