Bakkt’s Parent Company Quitted Purchasing eBay Valued at USD 30 Billion

Abstract : ICE announced the strategic plan to acquire eBay was terminated after a conference call on transactions with investors.

ChainDD
ChainDD

Feb 08

Intercontinental Exchange (ICE) gave up acquiring eBay after investors protested. On 6 February, IICE announced the strategic plan to acquire eBay was terminated after a conference call on transactions with investors.

ChainDD reported previously, ICE made offers to eBay which made the e-commerce giant worth over USD 30 billion.

ICE claimed on Wednesday that they agreed to acquire Bridge2 Solutions, a consumer loyalty solution provider. Following the acquisition, Bakkt of ICE intended to utilize funds from its Series B funding round to purchase Bridge2 Solutions from its parent company. The CEO Speaker of ICE announced on the same day a market that is worth over USD 10 billion will be open after Bakkt’s acquisition. The CEO of Bakkt mentioned the company will make use of Bridge2 Solutions’ relationships with banks and shops for new product development.

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