Distributed Technologies Research Acquired by Bakkt | Financial Services M&A Deal

Bakkt has completed the acquisition of Distributed Technologies Research, a payments processing business in the stablecoin infrastructure space, for $48 million. Bakkt acquisitions target Distributed Technologies Research, which provides a stablecoin technology stack and an AI payments engine designed for digital money movement. The strategic acquisition supports Bakkt’s goal to build a 24/7 digital settlement layer by bridging legacy financial systems with next-generation digital assets. The add on acquisition was executed as an equity-based transaction, with Bakkt issuing more than 11.3 million shares to DTR beneficial holders, and an additional 725,592 shares possible.