M&A Deal Summary

Celsius network Acquires MVP Workshop - Development Division

On June 22, 2021, Celsius network acquired information technology company MVP Workshop - Development Division from MVP Workshop

Acquisition Highlights
  • This is Celsius network’s 3rd transaction in the Information Technology sector.
  • This is Celsius network’s 1st transaction in Serbia.

M&A Deal Summary

Date 2021-06-22
Target MVP Workshop - Development Division
Sector Information Technology
Buyer(s) Celsius network
Sellers(s) MVP Workshop
Deal Type Divestiture

Target

MVP Workshop - Development Division

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

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Buyer(S) 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 STATS #
Overall 3 of 3
Sector (Information Technology) 3 of 3
Type (Divestiture) 1 of 1
Country (Serbia) 1 of 1
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-01 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.

Buy $115M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-02 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.

Sell -

Seller(S) 1

SELLER

MVP Workshop

Belgrade, Serbia

Category Company
Founded 2017
Sector Information Technology
DESCRIPTION

MVP Workshop is a blockchain product design and development studio driven by the exploration of disruptive technologies and their application in real-life scenarios. MVP Workshop was founded in 2017 and is based in Belgrade, Serbia.


DEAL STATS #
Overall 1 of 1
Sector (Information Technology) 1 of 1
Type (Divestiture) 1 of 1
Country (Serbia) 1 of 1
Year (2021) 1 of 1