A Bitcoin-focused investor group has acquired a major South Korean tech firm in a $25 million deal. The move reflects growing institutional momentum for Bitcoin integration across Asia.
An investment consortium with deep Bitcoin ties has finalized a strategic acquisition of SGA Co., Ltd., a KOSDAQ-listed software company based in Seoul. The group includes Sora Ventures, AsiaStrategy, Metaplanet CEO Simon Gerovich, and Korean private equity firm KCGI.
This collective is already known for backing Metaplanet Inc., the Tokyo-listed firm that converted its entire corporate treasury into Bitcoin. Their latest move sees them injecting approximately ₩34.49 billion (around $25 million USD) into SGA Co. via a third-party share issuance approved by the company’s board.
The deal involves the issuance of 58.86 million new common shares, all of which will be locked for one year under Korea Securities Depository custody. AsiaStrategy is set to become SGA’s largest shareholder, acquiring 47.2 million shares. Other allocations include KCGI with 8.15 million, Pathfinder Holdings with 2.3 million, and Simon Gerovich with 1.16 million shares.
SGA Co., known for providing system integration solutions to public agencies and educational institutions, plans to use the fresh capital to expand into digital asset ventures. The company aims to harness the consortium’s global network and Bitcoin-native experience to support its next growth phase.
This deal comes shortly after the same consortium made a bid to acquire Thai electronics firm DV8, signaling a broader Southeast Asian expansion strategy. Sora Ventures founder Jason Fang indicated the group is now targeting markets like the Philippines, Vietnam, Indonesia, and Malaysia, and is actively seeking partners to replicate the Bitcoin treasury model regionally.
CryptoFeedHub Note: This article is a rewritten summary based on external reporting. Original source: cryptoslate.com.