Metabrid LLC and Metabrid Korea Co., Ltd cancelled the acquisition of Disys Commerce Inc. from ISE Commerce Company Limited.
June 18, 2016
Share
Metabrid LLC and Metabrid Korea Co., Ltd signed an agreement to acquire Disys Commerce Inc. from ISE Commerce Company Limited (KOSDAQ:A069920) for $5.7 million (KRW 6.3 billion) on June 19, 2015. Metabrid will acquire 630 shares of Disys Commerce. The consideration amount of $0.29 million is schedule to pay on June 19, 2015 and $0.86 million on June 20, 2016 to Metabrid and $4.6 million on June 15, 2016 to Metabrid Korea Co., Ltd. Disys Commerce had total assets of approximately $7.01 million, net assets of approximately $5.32 million, sales of approximately $12.86 million, operating profit of approximately $0.11 million and net profit of approximately $0.11 million in 2014. The transaction was resolved by the Board of Directors of ISE Commerce Company on June 19, 2015. The deal is expected to close on October 15, 2015. As of October 15, 2015, ISE amends transaction settlement date of selling entire stake in Disys Commerce Inc., to June 15, 2016 from October 15, 2015. The transaction is expected to close on June 20, 2016. Hangil Accounting Corporation acted as accountant in the transaction. The currency conversion for the deal value was made through www.oanda.com as on June 19, 2015.
Metabrid LLC and Metabrid Korea Co., Ltd cancelled the acquisition of Disys Commerce Inc. from ISE Commerce Company Limited (KOSDAQ:A069920) on June 19, 2016.
ISE Commerce Company Limited is a Korea-based company engaged in the electronic commerce business. The Company engages in the provision of overseas and domestic shopping agency services through Internet catalogues: WIZWID, SKINRx, HauOlin, Sports25 and others. WIZWID provides apparels, shoes, bags and others. SKINRx mainly provides skin care products, body and hair care products, make-ups, fragrances and others. HauOlin provides living and home related items such as fabrics, furniture, kitchen and bath appliances and others. Sports25 principally provides leisure lifestyle sports goods. The Company also involves in the offline business, operating Wconcept store, Ntrend project, HanOlin store, and Jinny Kim Store. On April 1, 2013, the Company divested its brand-Jinny Kim business into a newly established wholly owned subsidiary.
ISE COMMERCE COMPANY LIMITED 
