Bitcoin Well (TSXV:BTCW) announces strategic acquisition of Ghostlab Inc.
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- Bitcoin Well (BTCW) has signed a share purchase agreement to acquire Ghostlab Inc.
- Ghostlab has been Bitcoin Well’s trusted software provider since January 2020
- Bitcoin Well will purchase all of the issued and outstanding shares of Ghostlab based on an enterprise value of up to $3.2 million
- Bitcoin Well offers convenient, secure and reliable ways to buy and sell bitcoin through a trusted Bitcoin ATM network and suite of web-based transaction services
- Bitcoin Well (BTCW) is currently down 1.41 per cent, trading at $0.35 per share
Bitcoin Well (BTCW) has signed a share purchase agreement to acquire Ghostlab Inc.
Ghostlab is a software company that designs and develops software to improve the functionality and accessibility of modern financial technology and services, including Bitcoin ATM machines.
It has been Bitcoin Well’s trusted software provider, working behind the scenes to build software solutions.
In January of 2020, Bitcoin Well spun out its proprietary software development arm to Ghostlab.
Ghostlab rebuilt Bitcoin Well’s existing software and developed its proprietary ATM software that improves bitcoin accessibility and makes it more usable for the average person.
To acquire Ghostlab, Bitcoin Well will purchase all of the issued and outstanding shares of Ghostlab based on an enterprise value of up to $3.2 million.
Julian Klymochko, Chairman of Bitcoin Well, commented on the acquisition.
“When acquired, the Ghostlab division of Bitcoin Well will expand the future potential SaaS revenue stream for Bitcoin Well, including from ATM software, merchant services and additional crypto asset digital services.”
Bitcoin Well offers convenient, secure and reliable ways to buy and sell bitcoin through a trusted Bitcoin ATM network and suite of web-based transaction services.
It is the first publicly traded Bitcoin ATM company in the world, armed with cutting-edge software development that supports further expansion.
Bitcoin Well (BTCW) is currently down 1.41 per cent, trading at $0.35 per share as of 11:32 am ET.
