Blaqclouds Completes Acquisition of ZEUS Blockchain Partners
Deal News | Dec 10, 2024 | Globenewswire
Blaqclouds, Inc. (OTC: BCDS), a leader in blockchain innovation, announced the successful acquisition of ZEUS Blockchain Partners, Inc. from DMS Technology, Inc. This strategic acquisition seeks to enhance Blaqclouds' capabilities in the decentralized finance (DeFi) sector. As part of the deal, Blaqclouds acquired ZEUS for 100% of its issued and outstanding shares, representing 100,000,000 shares of common stock. The transaction, valued at $750,000, was finalized through a one-year convertible promissory note with an annual interest rate of 6%. The acquisition will see ZEUS integrated into the Blaqclouds ecosystem, which will bolster its blockchain solutions portfolio with platforms like ZEUSChainScan.io, ZEUSx.io, ZEUSNFTx.io, and more. This acquisition is aligned with Blaqclouds' strategic vision to promote blockchain adoption and maximize shareholder value. CEO Marjorie Schaefer expressed enthusiasm about the merger, seeing it as a pivotal moment in establishing global leadership in blockchain technology. ZEUS Blockchain Partners, a Colorado-based firm, is recognized for its innovative DeFi solutions, which aligns with Blaqclouds’ mission to provide secure, scalable, and efficient platforms.
Sectors
- Blockchain Technology
- Decentralized Finance (DeFi)
- Mergers and Acquisitions
Geography
- United States – Both Blaqclouds, Inc. and ZEUS Blockchain Partners, Inc. are based in the USA, specifically mentioning Colorado for ZEUS.
Industry
- Blockchain Technology – The article centers on a company acquisition in the blockchain technology sector, involving blockchain platforms and decentralized finance solutions.
- Decentralized Finance (DeFi) – ZEUS Blockchain Partners specializes in DeFi, and this acquisition expands Blaqclouds' footprint in the decentralized finance sector.
- Mergers and Acquisitions – The article discusses the acquisition of ZEUS Blockchain Partners by Blaqclouds, highlighting the M&A strategy in the blockchain industry.
Financials
- $750,000 – The value of the convertible promissory note issued by Blaqclouds to acquire 100% of ZEUS Blockchain Partners' shares.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Blaqclouds, Inc. | Buyer | Company | A publicly traded company focusing on blockchain and decentralized solutions, acquiring ZEUS to enhance its technological footprint. |
| ZEUS Blockchain Partners, Inc. | Target Company | Company | A Colorado-based company specializing in decentralized finance (DeFi) and scalable blockchain ecosystems, acquired by Blaqclouds. |
| DMS Technology, Inc. | Vendor | Company | Previous owner of ZEUS Blockchain Partners, selling it to Blaqclouds as part of the acquisition. |
| Marjorie Schaefer | CEO | Person | Chief Executive Officer of Blaqclouds, Inc., expressing enthusiasm for the acquisition and its strategic importance. |
| Unknown Spokesperson | Spokesperson | Person | A representative of ZEUS Blockchain Partners commenting positively on the company's acquisition by Blaqclouds. |