Helios Net Corporation signed a basic agreement to acquire mobile information and communication equipment sales agency business from Smartvalue Co., Ltd..
February 13, 2020
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Helios Net Corporation signed a basic agreement to acquire mobile information and communication equipment sales agency business from Smartvalue Co., Ltd. (TSE:9417) on February 14, 2020. Helios Net Corporation signed a business transfer agreement to acquire mobile information and communication equipment sales agency business from Smartvalue Co., Ltd. on March 31, 2020. The deal value is payable in cash. For the twelve month period ending July 1,2019, mobile information and communication equipment sales agency business reported ¥3.9 billion as net sales and ¥479 million as operating profit. The Board of Directors of Smartvalue held a resolution on February 14, 2020 for the deal. The planned business transfer agreement signing date is March 31, 2020. Due to the transfer of the business, the business transfer gain will be recorded as extraordinary income in the consolidated financial statements for the third quarter of the fiscal year ending June 2020 for Smartvalue.
Smartvalue Co.,Ltd. is a Japan-based company engaged in provision of resolutions of social issues through cloud service. The Company has two business segments. The Cloud Solutions segment has regional information cloud business, cloud platform business and mobility service business. The regional information cloud business provides software as a service (SaaS) based on urban data center for local governments, public institutions and other specific industries. The cloud platform business provides infrastructure as a service/platform as a service (IaaS/PaaS) and other cloud based services through data center. The mobility service business provides mobility cloud solutions based on sales of safe driving support equipments in vehicle field. The Mobile segment provides consulting, various contract agency services and after sales services to meet customerâs needs and life styles based on the sales of mobile information and communication equipments.
Helios Net Corporation signed a basic agreement to acquire mobile information and communication equipment sales agency business from Smartvalue Co., Ltd..