SITV makes strategic acquisition
STOCKHOLM IT VENTURES makes strategic acquisition and investment in Dubai based Blockchain Technology Capital
STOCKHOLM, SWEDEN (8 NOVEMBER 2018) – Stockholm IT Ventures AB (Frankfurt Stock Exchange: SVAB – ISIN SE 0006027546) has acquired BlockChain Technology Capital Limited, a Dubai based blockchain startup, in an equity swap plus cash deal. SITV is going through a major acquisition drive as it positions itself as a global leader in providing next generation blockchain based financial services.
Blockchain is delivering tremendous disruption in all industry verticals especially in the financial services industry. SITV have been very busy over the last 12 months in acquiring the relevant financial technology and regulatory infrastructure to build the next generation of financial services by becoming a bridge between traditional financial asset classes and blockchain.
“We were very impressed with the founding team and want they wanted to do with their business as it fully aligned to our vision and roadmap for SITV”. – states Anthony Norman – CEO SITV.
The acquisition of BlockChain Technology Capital further strengthens SITVs expertise in the area of blockchain development, product innovation and advisory, building a strong blockchain ecosystem that connects all parts of its business.
“We are excited to be part of the SITV group to accelerate the vision of making it a global leader in the next generation of blockchain based financial services”. – states Mujassum Butt Co-Founder and Managing Partner Blockchain Technology Capital.
“The synergies between us and SITV our tremendous and now being part of the group will further help grow our client base and strengthen our value offering” – concludes Asim Khan – Co Founder and Managing Partner Blockchain Technology Capital.
Blockchain Technology Capital will now become part of the SITV Group of companies and will continue to be based in Dubai, UAE and its management team and operation are going to be fully integrated with SITV’s.
About Stockholm IT Ventures AB
Stockholm IT Ventures AB is a Swedish public company listed on the Frankfurt Stock Exchange since 2014 under the ticker symbol SVAB. The Company specialises in clean and efficient low-cost energy cryptocurrency mining, production and related FinTech and Blockchain technologies. For more information visit www.stockholmit.co. You can also find the Company on Facebook, Twitter and LinkedIn. Details on the Company’s Bytemine (BYTM) token and White Paper can be found at www.bytemine.io.
Stockholm IT Ventures AB, Anthony Norman, firstname.lastname@example.org