Hibert Group buys Enigma Nordic in $32 million deal to boost crypto trading edge

What to know:

• Hilbert Group has acquired high-frequency trading platform Enigma Nordic in a $32 million deal, gaining access to Enigma's proprietary trading system and market-neutral strategies.

• The deal includes performance-based earn-outs contingent on Enigma's strategies generating $40 million in net income.

• The acquisition will help Hilbert offer systematic crypto products to institutional investors, with plans to integrate Enigma's platform into its hedge fund offerings.

  

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