Investment Firm Republic to Acquire INX Digital for Up to $60 Million

Republic is acquiring crypto trading firm INX Digital (INXDF) at a valuation of up to $60 million. The acquisition will be executed by Republic Strategic Acquisition, which will purchase all shares of INX. The deal is expected to close within eight months, pending conditions.

Key points include:

Republic already holds a 9.5% stake in INX, acquired in 2023.
The acquisition aims to enhance Republic's position as a blockchain investor.
It will facilitate trading tokens and secondary market opportunities in crypto and real-world assets.
INXDF shares rose from $0.02 to $0.16 after the announcement, then fell to $0.09 shortly thereafter.