Davies advised global multi-platform entertainment company Wattpad Corp. in its acquisition by South Korean Internet company Naver Corporation, home of digital comics platform WEBTOON, in a cash and stock transaction valued at more than an estimated US$600 million.
The acquisition will fuel the continued growth and success of Wattpad, which will remain headquartered in Canada, by aligning Wattpad and WEBTOON and creating a leading global multimedia entertainment company with a combined user base of over 160 million monthly users.
Involving a broad base of shareholders, the transaction required significant expertise and cross-border collaboration. The Davies team advising on the deal was led by Richard Cherney, Brian Kujavsky, Fotini Gagaoudakis and Elisa Kearney; and assisted by Marie-Emmanuelle Vaillancourt, Antoine Le Bihan, Tyson Lowrie, Dajena Pechersky and Rachel Park.
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