CrowdWorks Acquires 66% Stake in Shinp let with Debt to Secure Manufacturing AI Technology
CrowdWorks acquires 66% stake in Shinp let for approximately 3 billion KRW using debt to secure core manufacturing AI technology and talent.
Shinp let is a system software developer with 2024 revenue of 1.58 billion KRW and net income of 81 million KRW.
The all-debt financing avoids shareholder dilution but increases financial leverage with a 3 billion KRW bank loan from Hana Bank.
The original earn-out option and put/call options have been removed in the contract amendment, simplifying the transaction.
[AI Summary]CrowdWorks strengthens its manufacturing AI capabilities by acquiring a 66% stake in Shinp let using debt. While no dilution occurs, the increased debt burden and the need for rapid synergy realization will be key factors for the stock price outlook.
KOSDAQ Filing Information
[Correction of Description] Report on Major Events (Decision to Acquire Stocks and Investment Securities of Other Corporation)