Opt Ventures No. 1 Investment Limited Partnership managed by OptVentures Co, Ltd., Spiral Ventures Japan Fund No. 1 managed by Spiral Ventures Japan LLP, MIC Innovation IV Limited Liability Fund managed by Mobile Internet Capital Inc., i Mercury Capital, HDE, Inc and Toru Takama cancelled the acquisition of 51.01% stake in rakumo, Inc. from Netyear Group Corporation.
August 28, 2018
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Opt Ventures No. 1 Investment Limited Partnership managed by OptVentures Co, Ltd., Spiral Ventures Japan Fund No. 1 managed by Spiral Ventures Japan LLP, MIC Innovation IV Limited Liability Fund managed by Mobile Internet Capital Inc., i Mercury Capital, HDE, Inc and Toru Takama signed the contract to acquire 51.01% stake in rakumo, Inc. from Netyear Group Corporation (TSE:3622) for approximately ¥330 million on August 29, 2017. Under the terms of the transaction, Netyear Group Corporation will sell approximately 0.02 million shares of rakumo, Inc. Post-acquisition, Netyear Group Corporation will o longer hold any stake in rakumo, Inc. For the year ended March 31, 2017, rakumo, Inc. reported total revenues of ¥336 million, total assets of ¥168 million, operating profit of ¥2 million, net loss of ¥2 million and net liabilities of ¥140 million. Board of Netyear Group Corporation resolved the transaction on August 29, 2017. The transaction is expected to complete on August 30, 2017.
Opt Ventures No. 1 Investment Limited Partnership managed by OptVentures Co, Ltd., Spiral Ventures Japan Fund No. 1 managed by Spiral Ventures Japan LLP, MIC Innovation IV Limited Liability Fund managed by Mobile Internet Capital Inc., i Mercury Capital, HDE, Inc and Toru Takama cancelled the acquisition of 51.01% stake in rakumo, Inc. from Netyear Group Corporation (TSE:3622) on August 29, 2018.
Rakumo Inc is engaged in information technology (IT) solution business. The Companyâs main business includes Software as a Service (SaaS) service, which provides license services; solution service, which centered on installation support and business support related to license services; IT offshore development service that develops lab-type IT systems based in Vietnam. The SaaS service develops and sells the groupware product rakumo for companies, as well as selling agents of other company's licenses. rakumo is a general term for a group of services in corporate groupware for which the group handles planning and development. The solution service sells hardware of other companies related to the license service, in addition to solution services such as installation support and business support of own and other companyâs SaaS services. IT offshore development services provides IT offshore development services based on its Vietnam subsidiary rakumo Company Limited.
Opt Ventures No. 1 Investment Limited Partnership managed by OptVentures Co, Ltd., Spiral Ventures Japan Fund No. 1 managed by Spiral Ventures Japan LLP, MIC Innovation IV Limited Liability Fund managed by Mobile Internet Capital Inc., i Mercury Capital, HDE, Inc and Toru Takama cancelled the acquisition of 51.01% stake in rakumo, Inc. from Netyear Group Corporation.
RAKUMO INC. 
