TechFlow news, November 26 — South Korea's largest portal site NAVER announced that NAVER Financial will acquire 100% of Dunamu, the operator of cryptocurrency exchange Upbit, via a share exchange, making it a wholly-owned subsidiary.
According to public filings, in this share exchange, each Dunamu share will be valued at 439,252 Korean won, and each NAVER Financial share at 172,780 Korean won, resulting in an exchange ratio of 1:2.54.
NAVER stated that the acquisition of Dunamu aims to secure future growth momentum based on digital assets. The company said that after completion, both companies will continue their existing operations while pursuing functional and organic collaboration to ensure future growth. They will also review various structural reorganization plans to enhance operational efficiency and shareholder value.
