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Add-on Acquisition • Information Technology

Celsius network Acquires GK8

On January 1, 2021, Celsius network acquired information technology company GK8 for 115M USD

Acquisition Context
  • This is Celsius network’s 2nd transaction in the Information Technology sector.
  • This is Celsius network’s largest (disclosed) transaction.
  • This is Celsius network’s 1st transaction in Israel.
Investment Fate
  • GK8 was divested to a consortium of strategic buyers in 2022.

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M&A Deal Summary
Date January 1, 2021
Target GK8
Sector Information Technology
Buyer(s) Celsius network
Deal Type Add-on Acquisition
Deal Value 115M USD

Target Company

GK8

Tel-Aviv, Israel
GK8 is an institutional digital asset self-custody platform that offers both traditional and crypto-native institutions an end-to-end platform for managing blockchain-based assets. The Company developed Cold Vault that enables its clients to create, sign, and send secure blockchain transactions without internet connectivity, eliminating all cyber attack vectors paired with a patented MPC for automatic transactions. The platform facilitates custody, staking, DeFi, NFT support, tokenization, trading, and more. Chosen by Mastercard to help it define the future of blockchain finance and payments, GK8 serves clients managing billions worth of digital assets, including social investing network eToro, Securrency, a blockchain fintech company backed by State Street, U.S. Bank, WisdomTree, and Abu Dhabi Catalyst Partners, Tezos Foundation, and Prosegur. GK8 is based in Tel-Aviv, Israel.
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Buyer Overview 1

Buyer

Celsius network

London, United Kingdom
Category Company
Founded 2017
Sector Information Technology
DESCRIPTION

Celsius network addresses the financial needs of today’s consumers worldwide through a high-interest income and low-cost lending accessible via a mobile app. Built on the belief that financial services should only do what is in the best interests of the depositor community, Celsius is a modern platform where membership provides access to curated financial services that are not available through traditional financial institutions. Crypto holders can earn interest by transferring their coins to their Celsius Wallet and borrow USD against their crypto collateral at interest rates as low as 4.95% APR or earn up to 10% on stable coins and other crypto coins.

Deal Context for Buyer #
Overall 2 of 3
Sector: Information Technology 2 of 3
Type: Add-on Acquisition 2 of 2
Country: Israel 1 of 1
Year: 2021 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-20 BSave

London, United Kingdom

BSave is one of the first digital platforms providing earned interest income on cryptocurrency. The BSAVE team is drawn from a group of online entrepreneurs with a passion for combining the potential of alternative investments with the power of new technology. BSave bring proven experience and solid professional expertise from diverse backgrounds in the fields of finance, high tech development, online marketing, and entertainment.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-22 MVP Workshop - Development Division

Belgrade, Serbia

MVP Workshop's Development Division comprises nearly 50 of MVP Workshop's engineers and designers.

Buy -

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