IDIS Co., Ltd. Announces the Closing of its Acquisition of Costar Technologies, Inc.

COPPELL, Texas, Aug. 18, 2023 /PRNewswire/ -- IDIS Co., Ltd. ("IDIS") (143160:KOSDAQ) and Costar Technologies, Inc. ("Costar") (OTCMarketsGroup:CSTI) are pleased to announce that pursuant to the terms of the previously announced merger agreement signed March 23, 2023 (the "Merger Agreement") IDIS has acquired all of the common stock of Costar (the "Costar Shares"). Following the acquisition, Costar will continue to operate as a wholly-owned subsidiary of IDIS. After customary working capital adjustments and payment of indebtedness and transaction expenses, Costar stockholders will receive approximately $4.90 in cash for each Costar Share and the Costar Shares will be delisted from the OTC Markets Group. With the acquisition of Costar, IDIS, the largest video surveillance manufacturer in South Korea, expands its global presence and further diversifies its product portfolio.