Hilbert Group Acquires Enigma Nordic for Up to $25 Million

Hilbert Group has acquired Enigma Nordic in a deal worth up to $25 million. The acquisition grants Hilbert ownership of proprietary market-neutral strategies operating across global crypto exchanges.

The terms of the deal include an initial payment of $7.5 million in newly issued shares at closing, with an additional $17.5 million in earn-outs dependent on Enigma's strategies generating $40 million in cumulative net income.

Hilbert CEO Barnali Biswal stated that the acquisition strengthens the firm's capacity to deliver systematic crypto products to institutional investors and brings advanced technology and a proven entrepreneurial team.