A consortium of Bitcoin-Native Investors is planned to acquire SGA Co., Ltd., a software provider from Kosdaq in Seoul, shared according to a statement of 14 July with CryptoSlate.
The investor group includes Sora Ventures, Asiastatey, Metaplanet CEO Simon Gerovich and KCGI, a prominent Korean private equity company that specializes in guided growth.
This collective also played a prominent role in Metaplanet Inc., the company listed by Tokyo that is known for converting his business treasury to Bitcoin.
SGA Co., who provides solutions for system integration to educational institutions and public authorities, confirmed that its council has approved an issue of third parties to the consortium.
By one submit With the Korea’s Financial Service Commission (FSC), the deal will release the company 58,862,249 new ordinary shares, which yields around ₩ 34.49 billion (around $ 25 million). All shares remain locked for a year under the custody of the Korea Securities Depository.
The submission shows that Asiaststrategy will receive 47.2 million shares, making it the largest shareholder in the company. Other assignments are KCGI (8.15 million shares), Pathfinder Holdings (2.3 million) and Simon Gerovich (1.16 million).
SGA plans to use the new capital to support general activities and to pursue new business initiatives in the digital assets sector. The company strives to use the global reach of its new investors and Bitcoin-first experience to stimulate future growth.
This announcement follows the acquisition body of the same investor group on DV8, a Thai electronics and retail company, which strengthens their strategy to expand the acceptance of Bitcoin in Southeast Asia.
Jason Fang, founder of Sora Ventures, hinted that the consortium is now looking at new markets in the Philippines, Vietnam, Indonesia and Malaysia. According to Fang, the group is actively looking for execution-ready partners to further expand their Bitcoin Treasury model in the region.
