In Brief:
- CoinShares acquired Napoleon and its subsidiaries for $15.7 million in cash and stock.
- The acquisition will help the company to expand its in-house technology and its reach to new markets.
- The deal is expected to be completed in the second week of December.
European crypto asset manager CoinShares agreed to buy French crypto investment product provider Napoleon Crypto SAS and its subsidiaries for €13.9 million ($15.7M) in cash and stock. As per the company’s announcement on Wednesday, CoinShares will release 363,636 new shares at €10.80 ($12.25) each to complete the deal. The acquisition is set to close in the second week of December.
Upon completion of this acquisition, Napoleon’s employees will become part of the CoinShares family of companies, leveraging CoinShares’ technology, market infrastructure, and market presence to further accelerate platform growth with a strong focus on self-directed investors. For now, there will be no changes to Napoleon’s day-to-day management and product offerings.
CoinShares’ acquisition of Napoleon is part of the Group’s growth strategy to expand its in-house technology and platforms to reach new markets with new products that will help bridge the gap between traditional and decentralized finance. It will also result in a significant shift in investor preferences.
Napoleon provides pre-built, non-custodial crypto portfolios to suit a variety of investment objectives. The portfolios are seamlessly integrated with such exchanges as Nitfinex, Binance, Bitstamp, and FTX. Non-custodial crypto portfolios enable users to retain complete control over their funds while allocating models and algorithmic strategies.
Napoleon Group GM JC Dudek expressed satisfaction with the deal saying that over the years Napoleon Group has emerged as one of Europe’s most active crypto trader communities. The deal will enable us to focus on accelerating our platform growth and client acquisition.
Many crypto exchanges have been grabbing headlines lately with acquisitions to expand their reach globally. Recently, Crypto.com acquired two trading platforms from IG Group. In the future, more crypto trading firms will join the marketing rampage to scale their platforms.
