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Bakkt Holdings to Acquire Shares of Japanese Company Marusho Hotta; Company to be Renamed bitcoin.jp; Transaction Expected to Kick Off Bakkt's Multinational Bitcoin Treasury Strategy

1. Bakkt to acquire 30% of MarushoHotta, becoming its largest shareholder. 2. Phillip Lord will be CEO of MarushoHotta post-acquisition.

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$9.5308/06 08:22 AM EDTEvent Start
$9.908/07 03:25 PM EDTLatest Updated
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FAQ

Why Bullish?

This acquisition strengthens Bakkt’s market position and enhances growth prospects, similar to other successful investments in the past.

How important is it?

The acquisition aligns with Bakkt's growth strategy, which may attract investor interest and positively impact stock price.

Why Long Term?

Establishing a major stake in MHT is likely to yield benefits over an extended period, as integration takes time.

Related Companies

RIZAPMHT
ALPHARETTA, Ga.--(BUSINESS WIRE)--Bakkt Holdings, Inc. (“Bakkt” or the “Company”) (NYSE: BKKT) announced that it has entered into a share purchase agreement with RIZAP Group, Inc. to acquire approximately 30% of the outstanding shares of MarushoHotta Co., Ltd. (“MHT”), a Tokyo-listed company (TSE: 8105). The acquisition would make Bakkt the largest shareholder of MHT. As part of the transaction, Phillip Lord, President of Bakkt International, will become Chief Executive Officer of MHT, and MHT.

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