Europe’s prominent cryptocurrency firm, CoinShares announced that the company has agreed to purchase Napoleon, a French financial technology firm, and its subsidiaries today. CoinShares called the latest acquisition announcement an integral part of the Group’s growth strategy.
Upon the completion of the deal, which is expected during the second week of December, Napoleon and its team will become a part of CoinShares, enabling them to take advantage of the scale and size of CoinShares’ broader outreach.
The French fintech platform allows self-directed investors to expand their cryptocurrency investing experience through a suite of pre-built portfolios and strategies that cater to different investment objectives. Established in 2017, Napoleon gained immense popularity among the French investment community.
“Crypto is about community, and over the last seven years, CoinShares has built a fantastic one. As we continue to grow, it is increasingly important for us to keep developing our ability to distribute our research, expertise and products directly to our clients via the most appropriate channel. Today, Napoleon offers crypto exchange clients the capabilities to hook their exchange account to our platform of thematic algorithmic trading strategies and baskets designed to offer a better risk-adjusted return based on customer selected risk profile,” CoinShares CEO Jean-Marie Mognetti, commented.
Financial Details
CoinShares International Limited entered into a sale and purchase agreement with Napoleon on 30 November 2021 to buy Napoleon Crypto SAS for a total of €13,930,427. In terms of the transaction, the company will pay through a combination of cash and a partial equity swap.
“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,” JC Dudek, the Napoleon Group GM, noted.
In November 2021, CoinShares announced the approval of its application to start trading on the OTCQX Market in the US.
