Bakkt to acquire Apex Crypto from Apex Fintech Solutions for up to $200M

Digital asset platform Bakkt Holdings (NYSE:BKKT) is set to acquire Apex Crypto from Apex Fintech Solutions for up to $200M.The acquisition is expected to bolster Bakkt's cryptocurrency product offering. Bakkt will initially pay $55M in cash at the deal close and up to $45M in stock, subject to performance, in Q4.Based on the performance, an additional amount of up to $100M in stock and seller notes may be paid through 2025. The transaction, subject to required regulatory approvals, is expected to close in H1 2023.BKKT shares were trading +4.00% pre-market.Source: Press Release