CoinShares Acquires Crypto Investment Provider Napoleon for $15.7M

Digital asset manager CoinShares agreed to buy French crypto investment product provider Napoleon Crypto SAS for €13.9 million ($15.7 million).

The transaction will be settled in cash and shares with the issuance of 363,636 new shares at €10.80 ($12.2) each, CoinShares announced Wednesday.The deal is expected to be completed in the second week of December.Napoleon provides prebuilt, noncustodial crypto portfolios catering to different investment goals. The portfolios are integrated with such exchanges as Binance, FTX, Bitfinex and Bitstamp.Jersey-based CoinShares trades on the Nasdaq First North Growth Market. Its assets under management stood at £2.9 billion ($3.9 billion) as of the end of September this year.

Read more: Invesco India and CoinShares to Launch ‘Feeder Fund’ of Blockchain Stocks

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