Wattpad Corp. to be Acquired by Naver Corporation for over USD $600 Million

January 21, 2021

Wattpad Corp., a global multi-platform storytelling entertainment company headquartered in Canada, to be acquired by Naver Corporation, a public South Korean Internet conglomerate. Naver is expected to acquire Wattpad in a cash and stock transaction valued at more than an estimated USD $600 million, subject to customary adjustments, regulatory approvals and other terms. The transaction is expected to close in approximately 90 days.

Wildeboer Dellelce LLP is acting for certain of the selling shareholders including August Capital, BDC IT Ventures, Khosla Ventures and Union Square Ventures in connection with the transaction with a team comprised of Troy Pocaluyko and Melissa Smith (corporate/securities and mergers and acquisitions).

Full details can be found here.