✅New Acquisition✅ WonderFi to Acquire Crypto APIs, Leading Crypto and Blockchain Market Data Provider
Vancouver, British Columbia–(Newsfile Corp. – December 14, 2021) – WonderFi Technologies Inc. (NEO: WNDR) (OTC PINK: WONDF) (WKN: A3C166) (FTX: WNDR) (the “
Company ” or “
WonderFi “) today announced that it has agreed to acquire all of the issued and outstanding shares of Mena Software Ltd. (“
Crypto APIs “), a data and wallet provider that services customers including Paypal, Ledger, Chainlink and Nexo (the “
Acquisition “).
Crypto APIs was founded in 2018, and is a leading provider of cryptocurrency and blockchain market data and tools which are utilized by a wide range of market participants including enterprises, wallets and exchanges and institutional investors. Crypto APIs is a trusted data authority that provides secure and scalable data products for the crypto and DeFi industries. Crypto APIs has also developed a multi-party computation (“ MPC “) Wallet product that enables best in class MPC security for digital assets, similar to products offered by Fireblocks and Copper.
“Data is the backbone of all financial markets, and is more difficult to obtain in the crypto and DeFi sectors due to the fragmentation of market data across different protocols and blockchains” commented WonderFi CEO, Ben Samaroo. “WonderFi’s acquisition of Crypto APIs will help us provide access to high-quality, comprehensive data in order to foster efficiency, transparency and growth in the sector, while directly integrating and supporting WonderFi’s own products”.
“To be part of Web 3.0, you need the right infrastructure and tools. Crypto APIs provides businesses with solutions that are the backbone of the Web 3.0 ecosystem. We are excited to join the family of WonderFi as this will allow us to scale up fast, improve our services, develop institutional products and expand into new territories,” commented Nashwan Khatib, CEO of Crypto APIs.
Transaction Details
The Acquisition is currently anticipated to be valued between $15 million and $25 million USD, subject to on-going due diligence, and consideration will be paid as a combination of cash and WonderFi common shares. WonderFi will retain substantially all current Crypto APIs staff and enter into employment agreements with key members of the management team.
The Acquisition is subject to the parties negotiating and entering into a binding definitive agreement to give effect to the Acquisition and is expected to close in the first quarter of 2022, subject to Crypto APIs shareholder approval, board approvals, the completion of due diligence by WonderFi and other acquisition-related closing conditions and regulatory approvals.
https://www.thewhig.com/newsfile/107568-wonderfi-to-acquire-crypto-apis-leading-crypto-and-blockchain-market-data-provider