Digital asset manager CoinShares agreed to buy French crypto investment product provider Napoleon Crypto SAS for €13.9 million ($15.7 million) in cash and stock.
- CoinShares will issue 363,636 new shares at €10.80 ($12.25) each to complete the deal, the company 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, Bitfinex, Bitstamp and FTX.
- Jersey-based CoinShares trades on the Nasdaq First North Growth Market. Its assets under management stood at £2.9 billion ($3.9 billion) at the end of September.
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