US EditionBakkt (BKKT) jumps 17% on pushing deeper into stablecoin payments with new acquisition deal
Bakkt will issue shares representing 31.5% of its stock to acquire DTR, aiming to boost stablecoin settlement and support programmable payments and neobanking plans.
- Recent months, Bakkt announced it agreed to acquire Distributed Technologies Research Ltd. and will operate as Bakkt, Inc., following recent integration work.
- Bringing DTR into Bakkt completes the firm's transformation into a unified global financial infrastructure platform and accelerates time-to-market for stablecoin settlement, the company said.
- Under the definitive agreement, Bakkt will issue Class A common stock representing 31% of the Bakkt Share Number as consideration, subject to customary closing conditions.
- Bakkt also announced that it plans an Investor Day on March 19, 2025, at the New York Stock Exchange, continuing to trade under BKKT, as the acquisition prepares it to launch its neobanking strategy with multiple distribution partners.
- Previously, Bakkt acquired approximately 30% of MarushoHotta for $115 million last August, following CEO Akshay Naheta describing the deal as 'the culmination of a single, cohesive strategy,' the company said.
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19 Articles
Bakkt Shares Surge 18% As Firm Moves To Acquire Stablecoin Infrastructure Provider » News.ng
Bakkt Holdings’ shares surged sharply on Monday after the digital asset platform announced plans to acquire Distributed Technologies Research, a global stablecoin payments infrastructure company, in an all-equity transaction. The announcement sparked renewed investor interest, sending Bakkt’s stock up by around 18% during the trading session and marking its strongest performance in several months. The company’s shares, which trade on the New Yor…
Bakkt (BKKT) Stock Rallies 20% After Stablecoin Infrastructure Acquisition
TLDR Bakkt stock climbed 20% to $19.21 after announcing DTR acquisition plans Deal valued at $178 million through issuance of over 9 million Class A shares DTR’s founder Akshay Naheta currently serves as Bakkt CEO Transaction consolidates stablecoin settlement capabilities for neobanking expansion Parent company ICE committed to voting in favor of the merger Bakkt Holdings saw its stock price surge 20% Monday following news of its planned acqui…
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