Bloomberg: Naver Agrees to Acquire Upbit's Parent Company Dunamu for Around $10.3 Billion

BlockBeats News, November 26th, according to Bloomberg, South Korea's largest portal website company Naver has agreed to acquire Dunamu, the operator of South Korea's largest cryptocurrency exchange Upbit, in an all-stock deal valued at approximately $10.3 billion.

According to the transaction plan disclosed in regulatory filings on Wednesday, Naver's financial technology subsidiary Naver Financial Corp. will acquire Dunamu by issuing 2.54 shares of Naver's new stock for each share of Dunamu stock held.