Digital asset platform Bakkt has announced that it has signed a definitive agreement to acquire crypto infrastructure provider Apex Crypto. According to the agreement, the ceiling price of the acquisition will be $200 million.
According to the press release issued by Bakk on October 3, the agreement between the two companies has been officially signed. According to the terms of the transaction, Bakkt and Apex Fintech Solutions from 220 It will bring together many customers with the advantages of Bakkt’s crypto solutions.
According to the terms of the agreement, Bakkt will max out Apex Crypto. 200 million will buy in exchange for the dollar purchase price. According to the deal, Bakkt initially $55 million cash and depending on the achievement of the financial targets of the acquired business in the fourth quarter of 2022. up to $45 million Bakkt stake will pay. 2025 Depending on the achievement of the financial targets of the acquired business until the year up to $100 million Additional Bakkt stock and seller’s notes are scheduled to be paid.
Apex Crypto is in a rapidly expanding industry More than 30 fintechs It is a turnkey platform for integrated crypto trading developed to meet the growing needs of the firm and its customers. Apex Crypto, More than 30 tokensFacilitates hassle-free crypto investment in application, purchase and sale, storage, cost basis and tax services It supports customers with robust solutions for
Bakkt CEO Gavin Michael said the following about the deal:
We have found a unique asset at Apex Crypto that will expand our client base, give us a faster market for new crypto talent, and serve as an additional avenue for continued sales to a crypto-savvy audience through Apex Fintech Solutions. With the addition of this complementary business, we believe we are poised to become a preferred crypto provider for financial institutions, fintechs, merchants or loyalty programs looking to provide seamless crypto experiences to their customers.
The agreement, which was concluded with the acceptance of the terms by both parties, includes innovative steps in the future. According to a statement by Bakkt crypto- awards and NFTs Future plans are being made to unlock more constructive opportunities that appeal to the next generation of consumers, such as