CoinShares Announces Acquisition of Napoleon for €13.9M

CoinShares International Limited (CoinShares) has entered into a sale and purchase agreement (SPA) to acquire Napoleon Crypto SAS and its subsidiaries for €13,930,427.43. 

According to the official press release, this transaction will settle via a combination of cash and a partial equity swap, with the issuance of 363,636 new ordinary shares at a price of €10.8 per share

The acquistion is anticipated to complete in the second week of December upon admission of the Consideration Shares to trading. The SPA contains customary vendor and purchaser representations and covenants.

CoinShares will own the intellectual property and existing contracts relating to the business. At the same time, Napoleon and its employees will become part of the CoinShares family of companies, leveraging CoinShares’ technology, market infrastructure, and market presence to further accelerate platform growth with a strong focus on self-directed investors.

"Napoleon Group is proud to have built one of Europe’s most active crypto trader communities. This transaction will enable us to focus on accelerating our platform growth and client acquisition. We are very excited to join CoinShares and their broader ecosystem of partners to keep scaling," commented JC Dudek, General Manager of Napoleon Group.