Spackman

Spackman: Entered into a non-binding MOU to acquire 51% or more of Fireworks Co, a post-production house that creates high-end visual effects for TV commercials, music videos, films and digital media. Fireworks was more known for its editing works on Reebok’s "Rolling In Front of the Chair" with Ahn So-hee of the Wondergirls, SK Telecom’s "Good Looking" with Jun Ji-hyun and Lee Jung-Jae, Wellmade’s "The People’s Clothing Store" starring Jung Woo-sung, tvN’s company public relations film featuring Psy rising a horse, and Northface’s ad starring Hyun Bin. Management expects the acquisition to benefit recently-acquired 51%-owned Breakfastfilm Co, given its close collaborations with Fireworks Co for almost a decade. In addition, group expects synergies with its theatrical film business, underpinned by Fireworks' potential to expand its scope to post-production for movies. At $0.23, Spackman trades at a trailing 22.6x P/E.