Hilbert Group buys Enigma Nordic in $32 million deal to boost crypto trading edge

Hilbert Group has acquired Enigma Nordic for $32 million to boost its competitive edge in crypto trading. This deal includes performance-based earn-outs contingent on Enigma’s strategies generating $40 million in net income. The move is seen as a vital step given the growth potential in the current cryptocurrency market. With increasing average trading volumes, Hilbert Group is likely feeling the necessity to strengthen its market position and adopt new strategies. This acquisition is also pivotal for catering to a broader client base that includes institutional investors and hedge funds. Furthermore, it may lead to further diversification of Hilbert's portfolio, as there are expectations for Enigma's technology and market insights to be optimally utilized for future profitability.