Ateam Inc. (TSE:3662) agreed to acquire 67% stake in Paddle,inc from Hisahito Ide and others for approximately ¥370 million on May 28, 2024. Under the terms, Ateam will acquire 266 shares in Paddle for ¥368 million and advisory fees of ¥30 million. Paddle reported net assets of ¥167 million, total assets of ¥277 million, revenue of ¥655 million, operating income of ¥129 million and net income of ¥82 million for fiscal year ended October 31, 2023.

Ateam will acquire the remaining stake as well on November 1, 2027. The transaction is expected to close on November 1, 2024. The transaction has been approved by board of Ateam.