The Korea Information Certificate Authority, Incorporated cancelled the acquisition of the remaining 49% stake in SG Service Co., Ltd.
May 12, 2015 at 12:00 am EDT
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The Korea Information Certificate Authority, Incorporated (KOSDAQ:A053300) agreed to acquire the remaining 49% stake in SG Service Co., Ltd. for approximately KRW 600 million in cash on May 12, 2014. The Korea Information Certificate Authority is acquiring 0.3 million shares of SG Service Co., Ltd. For the year ended December 31, 2013, SG Service reported sales of KRW 2 billion, net income of KRW 9 million, total assets of KRW 736 million and shareholder's equity of KRW 376 million. The Board of Directors of The Korea Information Certificate Authority, Incorporated resolved the transaction on May 12, 2014 and the transaction is expected to be close on May 19, 2014.
The Korea Information Certificate Authority, Incorporated (KOSDAQ:A053300) cancelled the acquisition of the remaining 49% stake in SG Service Co., Ltd. on May 12, 2015.
KOREA INFORMATION CERTIFICATE AUTHORITY, INC. is a licensed certification authority by the government in Korea. The Company provides certification services, including issue of certificate, suspension of certificate validity, recovery and annulment of certificate validity, identification check related to certificate services and others, electronic trading security services, as well as certification related additional services, including certification system solutions and consulting services, and certification service hosting services, among others. The Companyâs solutions consist of SignGATE certification server (CA), SignGATE registration authority (RA), SG easy Web security (EWS) and SG SecuKit, among others. It also involves in the provision of solution maintenance services, security system integration (SI) services and others. On May 19, 2014, the Company acquired remaining shares of Korea-based subsidiary to hold a 100% stake in the target company.