Bakkt Expands Capabilities with DTR Acquisition
- Bakkt Holdings Inc. has agreed to acquire Distributed Technologies Research Ltd. (DTR) in a stock-based transaction.
- The acquisition aims to enhance Bakkt’s stablecoin settlement and programmable payments capabilities.
- Under the definitive agreement, Bakkt will issue Class A common stock equal to 31.5% of the “Bakkt Share”.
- The decision was approved by Bakkt’s board after a special committee review.
Bakkt Holdings Inc.’s acquisition of DTR is set to strengthen its position in the stablecoin market by enhancing its settlement and payment capabilities through a significant stock issuance strategy.
This strategic move involves issuing Class A common stock equivalent to a substantial portion of the “Bakkt Share,” reflecting its commitment to expanding financial technology solutions. (Source)
