Bakkt Acquires Distributed Technologies in Stock-Based Deal
Bakkt to Acquire Distributed Technologies Research in Stock-Based Transaction
Bakkt Holdings Inc. said Monday it has agreed to acquire Distributed Technologies Research Ltd. (DTR) in a stock-based transaction, according to the company.
Bakkt said the deal is aimed at expanding its stablecoin settlement and programmable payments capabilities, signaling a focus on payment infrastructure that can support digital-dollar-style transactions and more automated ways to move value.
The company said its board approved the acquisition following a review by a special committee under a definitive agreement.
Stablecoin settlement typically refers to using blockchain-based stablecoins to complete payments in a way that can be faster or more automated than traditional rails, while “programmable payments” generally describes payment flows that can be controlled by rules or logic embedded in the transaction process.
- Buyer: Bakkt Holdings Inc.
- Target: Distributed Technologies Research Ltd. (DTR)
- Structure: Stock-based transaction
- Stated goal: Expand stablecoin settlement and programmable payments capabilities
