NextGen, Inc. (JASDAQ:3842) signed a basic agreement to acquire voice locking business from Teac Corporation (TSE:6803) on January 16, 2014. As of March 2013, voice locking business reported sales of ¥365 million. The business transfer date will be decided in the future consultations set for March 2014. The agreement for the transfer will be signed on March 19, 2014 tentatively. The acquisition value will be a maximum of ¥250 million. There will be a ¥125 million cash settlement on the business acquisition date, and around end of July 2014 and end of July 2015 cash settlement is scheduled to be made proportional to the price adjustment. There will be a price adjustment depending on the sales for the fiscal year ending in March 2014 and March 2015. The extraordinary Board of Directors' meeting of NextGen resolved to transfer the voice logging business from Teac Corporation on March 31, 2014. As of June 29, 2015, the final acquisition price was confirmed as ¥158 million, of which ¥125 million was already paid by NextGen and ¥33 million will be paid by July 10, 2015.

NextGen, Inc. (JASDAQ:3842) completed the acquisition of voice locking business from Teac Corporation (TSE:6803) in April 2014.