WirelessGate, Inc. cancelled the acquisition of 30% stake in Fon Japan Co., Ltd. from FON Ltd.
November 08, 2016
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WirelessGate, Inc. (TSE:9419) signed a memorandum of understanding to acquire 30% stake in Fon Japan Co., Ltd from Fon Ltd for €12 million on November 9, 2015. In the shareholder agreement to be signed, WirelessGate, Inc will acquire the right to dispatch 1 director to Fon Japan. Parallel to the acquisition of part of the common shares of Fon Japan by WirelessGate, Inc, the acquisition of part of the Fon Japan common shares by Culture Convenience Club Co., Ltd. and Fon Japan’s representative director is also underway. As a result, the shareholder agreement will be signed by Fon Japan, FON, Ltd., Fon Japan’s representative director and WirelessGate, Inc. The transaction is expected to close on November 9, 2015.
WirelessGate, Inc. (TSE:9419) cancelled the acquisition of 30% stake in Fon Japan Co., Ltd. from FON Ltd. on November 9, 2016.
WirelessGate Inc is a Japan-based Company mainly engaged in the wireless broadband services related business. The Company operates in three businesses. The wireless broadband business provides three services. Mobile Internet service provides Wireless Gate Wi-Fi + WiMAX2 + and Wireless Gate SIM. The public wireless LAN service provides a high-speed Internet connection service Wireless Gate Wi-Fi. The optional service provides services such as telephone remote service and smart answering machine. The wireless business domain business provides two services. The authentication platform service provides ID and password authentication platforms, which are the foundation platforms of the wireless broadband business. Other corporate service includes the provision of Internet of Things (IOT) services and Prepaid Sim Card (SIM) services utilizing LTE networks for corporations. The Company is also involved in the sale of IoT-related goods.
WIRELESSGATE, INC. 
