Nukkleus Inc, Brilliant Acquisition Corp Will Merge to Form $140mln Revenue Firm

Thursday, 24/02/2022 | 07:05 GMT by Nicholas Otieno

Nukkleus' combination with Brilliant would position it in the Asian region.

The acquisition would accelerate Nukkleus’ momentum in the emerging economy.

Merge to Form $140mln Revenue Firm — Nukkleus Inc

Nukkleus, Inc, a New York based fintech firm, has announced today that it has signed a merger agreement to combine with Brilliant Acquisition Corp, a China-based blank check company. The transaction is set to give the combined firm a valuation of about $140 million.

The Board of Directors of both Nukkleus and Brilliant have approved the transaction. The proposed business combination is expected to close in the second or third quarter of 2022, subject to the satisfaction of customary closing conditions, including certain governmental approvals and the approval of the shareholders of both Nukkleus and Brilliant.

Nukkleus, which is a fintech company focused on providing software and technology solutions for the retail forex trading industry, regarded the merger as important. The firm plans to use the proceeds from the transaction to accelerate growth across the company’s network, empower the company’s portfolio of businesses to pioneer faster and more valuable custody, investment and payments solutions, and build new infrastructures for the digital economy. Furthermore, Nukkleus wants to use the funds to expand its support of sustainable ESG initiatives, bring together crypto thought leaders to collaborate on various blockchain-enabled projects, empower communities and reduce the digital divide.

Emil Assentato, Nukkleus’s CEO and Chairman, talked about the merger: “Nukkleus is extremely pleased to move toward our planned merger with Brilliant. We are very excited that Brilliant has recognized the opportunity Nukkleus provides its shareholders. Nukkleus, through the use of leading-edge technology, bridges many asset class execution points and applies this technology to revolutionize global money movement.”

Towards a Fast, Frictionless Future for Global Payments

Established in 2013, Nukkleus continues to achieve its vision of integrating global operations with online trading technology and enabling frictionless financial transactions in the broader financial industry.

In July last year, Nukkleus applied for an Electronic Money Institution (license) from the UK’s Financial Conduct Authority (FCA). If granted the license, then the firm would be able to offer seamless cryptocurrency conversions of regulated fiat money transfers within traditional banking infrastructure.

The license application is part of its efforts to expand its support for regulated, transparent and frictionless money movement between global financial institutions.

In September last year, Nukkleus acquired Match Financial Limited, a London-based and regulated FCA financial services firm that enables frictionless conversion of fiat to crypto through multiple banking facilities allowing for global same-day settlements. The acquisition has enabled Nukkleus to provide global counterparts access to a full-service digital asset platform with a comprehensive suite of crypto products and services and unique access to deep liquidity.

Towards a Fast, Frictionless Future for Global Payments

The license application is part of its efforts to expand its support for regulated, transparent and frictionless money movement between global financial institutions.