Transaction · Crypto / Digital Assets · 2025

Naver / Dunamu 2025

Naver acquired Dunamu for $10B on November 27, 2025.

Target: Dunamu
Acquirer: Naver
Deal value: $10B
Announced: November 27, 2025
Sub-sector: Crypto / Digital Assets

Transaction overview

Naver announced the acquisition of Dunamu on November 27, 2025 for $10B.

Strategic rationale

Combine Upbit's dominant crypto exchange (80% Korea market share) with Naver's ecosystem to create digital finance super-app and launch won-backed stablecoin.

Deal terms & multiples

Deal value: $10B
Target revenue: Not disclosed
Target EBITDA: Not disclosed
EV / Revenue: Not disclosed
EV / EBITDA: Not disclosed
Announcement: November 27, 2025
Acquirer: Naver (Strategic)
Sub-sector: Crypto / Digital Assets

Sources

bravenewcoin.com /insights/naver-to-buy-upbit-owner-dunamu-for-10-3-billion-in-major-crypto-deal

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