A consortium including Solid, Inc. (KOSDAQ:A050890), EMP Daiwa Capital Asia Limited, led by OPTIS Co.,Ltd signed a memorandum of understanding to acquire Pantech Co., Ltd. on June 16, 2015. The consortium already paid KRW 2 billion as a guarantee deposit, which cannot be refunded in the event of the collapse of the deal. Pantech Co., Ltd. recorded KRW 268.3 billion of assets and debt of KRW 996.2 billion in 2014.

EMP Daiwa Capital Asia Limited exited the consortium of buyer and was replaced by Solid, Inc. The deal is expected to close on July 17, 2015. As on July 19, 2015, the transaction was approved by the Seoul court. As of October 8, 2015, the consortium made full payment for the takeover of Pantech.

KPMG acted as financial advisor for Pantech.