Nival was founded in 1996 by Sergey Orlovskiy. In early 2005, the company was bought by Ener1 Group, a Florida-based holdings company, for around US$10 million.

Based on that paragraph can we conclude that this sentence is true?
In March 2005, the company was bought by Ener1 Group, a Florida-based holdings company, for around US$10 million.