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UK’s Deus X Capital expands in the region via new acquisition: London-basedcrypto investment firm Deus X Capital acquired Abu Dhabi-based crypto processing payments company Hayvn for an undisclosed sum, Cryptonews reports, citing a company statement. The acquisition is expected to be completed before 28 March.
The details: The acquisition will see Deus X Capital taking over Hayvn’s brand, technology, clients, and staff. The company will be headed by Richard Crook (LinkedIn), who was previously COO of digital assets payment firm BCB Group. Hayvn’s former CEO, Chrisotpher Filnos, reportedly resigned unexpectedly in December, the outlet reported.
This is not Deus X Capital’s first foray into the region: The family office agreed with Australian private equity firm and blockchain provider Bridgetower Capital last month to set up a USD 250 mn digital asset infrastructure platform in Abu Dhabi Global Market dubbed Bridgetower Middle East.
REMEMBER- Hayvn had plans to IPO: The crypto trading firm had plans to pursue a USD 150 mn IPO once it reaches a USD 1.5 bn valuation, Reuters reported two years ago. Back then, the company was in talks with institutional investors to raise some USD 30 mn to reach a USD 400 mn valuation. Flinos had anticipated that the company would reach the required IPO-valuation within “12 to 16 months.”
IN OTHER M&A NEWS-
US-based communications and creative agencies firm Ruder Finn has acquired Dubai-based PR agency Atteline, making it Ruder Finn’s regional headquarters, according to a press release. The acquisition will see Atteline’s 30 communications experts brought over to Ruder Finn. The details, including the size and value of the acquisition, were undisclosed.
Managing side-by-side: Atteline founder and Managing Director Sophie Simpson (LinkedIn) will work with Global CEO of Ruder Finn Kathy Bloomgarden (LinkedIn) and head of Ruder Finn’s Middle East division Atul Sharma post-acquisition, the statement said, without clarifying what the new roles will look like.
The GCC is an attractive market: “We are committed to expanding our reach and our expertise globally and now is a great time to do so as the UAE, and the Gulf Cooperation Council (GCC) countries are continuing to forecast strong growth across all industries. The region is increasingly regarded as an exciting hub for companies around the world.”
