M&A Deal Summary

True North Energy Acquires Kryptonite Korea

On January 8, 2018, True North Energy acquired information technology company Kryptonite Korea

Acquisition Highlights
  • This is True North Energy’s 1st transaction in the Information Technology sector.
  • This is True North Energy’s 1st transaction in South Korea.

M&A Deal Summary

Date 2018-01-08
Target Kryptonite Korea
Sector Information Technology
Buyer(s) True North Energy
Deal Type Add-on Acquisition

Target

Kryptonite Korea

South Korea
Kryptonite Korea Ltd. owns a diverse digital intellectual property portfolio and operates a variety of social media applications. The company is specialized in developing leading smartphone consumer internet applications, primary for social entertainment. These applications are specifically designed to be used on very low-end hardware, targeting the expansive user base in the emerging markets.

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Buyer(S) 1

Buyer

True North Energy

Spring, Texas, United States

Category Company
Founded 2004
Sector Energy Services and Equipment
Employees2
Revenue 1M USD (2008)
DESCRIPTION

True North Energy has engaged in the identification, acquisition and development of oil and gas properties. True North Energy holds overriding royalty interests on oil and gas properties located in Colorado and Oklahoma. Through its wholly-owned subsidiary, True North Acquisition Corp, the Company intends to consolidate and ultimately scale-up digital operations, focusing primarily on the immense Social, Gaming and Dating market, for low end Android users in South and Southeast Asia, which remain the world's fastest-growing smart-phone markets. True North Energy was founded in 2004 and is based in Spring, Texas.


DEAL STATS #
Overall 1 of 1
Sector: Information Technology M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
Country: South Korea M&A 1 of 1
Year: 2018 M&A 1 of 1