ZOO Digital Group PLC (AIM:ZOO) has acquired the remaining 49% of its associate in Korea.
In 2022, ZOO Korea generated US$1.2mln in revenue and US$0.1mln profit and it is now commercially advantageous for the associate to become a wholly-owned subsidiary of the group, ZOO Digital said in a statement.
Terms of the deal are 550,000 ZOO Digital shares and a one-off payment of US$200,000.
ZOO Digital acquired a 51% stake in March 2022.