San Francisco-based blockchain startup Blockstack.io has entered into an acquisition agreement with Digital Asset Holdings.
The deal, announced this morning, marks the latest acquisition by Digital Asset, which announced it had purchased blockchain startups Bits of Proof and Hyperledger earlier this year.
Launched in June, Blockstack is one of a number of startups seeking to offer private blockchain services to the world's finance industry. In August, CEO Peter Shiau told CoinDesk his company was working with prospective clients to better understand how the technology can be applied to traditional financial services.
According to today's announcement, the acquisition deal will see a merger of Digital Asset's and Blockstack's services.
Digital Asset CEO Blythe Masters said:
"Blockstack's solutions will enhance the existing Digital Asset technology stack and [Blockstack CTO Miron Cuperman], a renowned pioneer in the blockchain world, adds tremendous technical expertise to our development team."
Shiau said in a statement today that the acquisition will allow for the offering of blockchain solutions at greater scale.
"Digital Asset's technical approach is very complementary, and the combined firm will have the leadership and resources to scale its platform," he remarked.
The actual terms of the agreement, including the amount for which Blockstack is being purchased, was not directly disclosed in the announcement. Digital Asset and Blockstack were not immediately available for comment.
Image via Shutterstock