Hilbert Group Acquires Enigma Nordic for $32 Million to Enhance Trading Capabilities
- Hilbert Group (HILB) has acquired the high-frequency trading platform Enigma Nordic for $32 million.
- Enigma has reported over 50 billion Swedish krona (approximately $5.4 billion) in trading volume in early 2025.
- The acquisition includes $7.5 million in Hilbert shares and up to $17.5 million in performance-based earn-outs.
- To qualify for the full earn-out, Enigma’s strategies must generate $40 million in net income.
- Hilbert plans to integrate Enigma’s technology into its hedge fund offerings and proprietary trading desk.
This acquisition is aimed at strengthening Hilbert’s ability to offer systematic cryptocurrency products to institutional investors, leveraging Enigma’s advanced trading strategies that boast a Sharpe ratio above three, a performance rarely seen globally.
With this deal, Hilbert Group aims to enhance its market position by integrating innovative trading systems, following a significant trading volume of approximately $5.4 billion reported by Enigma so far this year.
