ADTEC Corporation (JASDAQ:6840) acquired 71.41% stake in Buddynet Inc. from Hiroyuki Koga and Reiichiro Hori for ¥250 million on January 30, 2015. ADTEC Corporation acquired 657 shares of Buddynet Inc. After the completion of the deal, ADTEC Corporation will held a Board of Director's meeting on February 27, 2015 to consider the acquisition of the remaining stake in Buddynet by share exchange, and turn it into its wholly owned subsidiary. As of December, 2014, Buddynet Inc. had net assets of ¥73 million, total assets of ¥160 million, sales of ¥574 million, operating profit of ¥92 million and net income of ¥55 million. The Board of ADTEC Corporation passed the resolution for the acquisition of 71.41% stake in Buddynet. Plus Sum Consulting Co., Ltd. acted as an appraiser for the acquisition.

ADTEC Corporation (JASDAQ:6840) completed the acquisition of 71.41% stake in Buddynet Inc. from Hiroyuki Koga and Reiichiro Hori on January 30, 2015.