Digital asset manager CoinShares agreed to buy French crypto investment product provider Napoleon Crypto SAS for €13.9 million ($15.7 million).
- The transaction will be settled in cash and shares with the issuance of 363,636 new shares at €10.80 ($12.2) each, CoinShares announced Wednesday.
- The deal is expected to be completed in the second week of December.
- Napoleon provides prebuilt, noncustodial crypto portfolios catering to different investment goals. The portfolios are integrated with such exchanges as Binance, FTX, Bitfinex and Bitstamp.
- Jersey-based CoinShares trades on the Nasdaq First North Growth Market. Its assets under management stood at £2.9 billion ($3.9 billion) as of the end of September this year.