Inscobee., Inc. agreed to acquire 25% stake in Oncotag Diagnostics Co., Ltd.
September 24, 2020
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Inscobee., Inc. (KOSE:A006490) agreed to acquire 25% stake in Oncotag Diagnostics Co., Ltd. on September 25, 2020. Inscobee., Inc. will acquire 0.21 million shares of Oncotag Diagnostics Co., Ltd. in cash. In a related transaction, Inscobee., Inc. agreed to subscribe to 0.14 million shares of Oncotag Diagnostics Co., Ltd. The combined deal value is KRW 5 billion. Oncotag Diagnostics Co., Ltd. reported total assets of KRW 724.7 million and net liabilities of KRW 91.7 million as at December 31, 2019. Oncotag Diagnostics Co., Ltd. reported sales of KRW 0.4 million and net loss of KRW 384.4 million in 2019. The Board of Directors passed a resolution for the transaction on September 25, 2020. The transaction is expected to be completed on October 7, 2020.
Inscobee, formerly Contents And Pepole, Logistics Energy company,.LTD, is a Korea-based company mainly engaged in the wristwatch, automobile and smart grid businesses. The Company mainly operates in five business divisions: wristwatch division provides wristwatch products, including sports watches and watches for gifts under the brand names Odin and Dolphin; automobile division engages in the marketing of used cars; digital division provides computers and peripherals; smart grid division engages in the provision of automatic meter infrastructure (AMI) systems, and distribution division engages in the distribution of beverages under the brand name Tipco. The Company distributes its products within domestic market and to overseas markets.
INSCOBEE., INC. 
