Intellistake Technologies Corp. has agreed to acquire Singularity Venture Hub for C$25 million, enhancing its capabilities in digital asset management and Web3 advisory services.

Target Information

Intellistake Technologies Corp., a Canadian technology company, has announced its agreement to acquire Singularity Venture Hub (SVH), a firm specializing in digital assets. SVH focuses on incubation, treasury management, and Web3 advisory services, making it a formidable presence in the emerging digital finance landscape. The acquisition involves Intellistake purchasing all outstanding shares of SVH for a total valuation of C$25 million, calculated at a share price of C$1.78.

Mario Casiraghi, the founder of SVH and the group chief financial officer of SingularityNET Foundation, is set to join Intellistake's board and be appointed as the company's president following the acquisition. With a robust track record in global finance, Casiraghi has previously managed transactions exceeding $80 billion at leading investment banks. SVH currently manages over $90 million in assets, with its portfolio of tokens reaching a valuation of about $250 million.

Industry Overview in Canada

Canada's technology sector, particularly regarding digital assets, has been rapidly evolving in recent years. The emergence of blockchain technology and decentralized finance solutions has led to increased interest and i