Fireblocks Denies Report of Visa Takeover Talks as ‘News to Us’
Summary
- Fireblocks said reports that it is engaged in acquisition talks with Visa are “not true at this time.”
- Axios reported that Visa is in talks to acquire Fireblocks at a $2.5 billion valuation.
- Fireblocks raised $550 million in 2022 at an $8 billion valuation, and Coinbase was also mentioned as a potential acquirer.
Forecast Trend Report by Period
Crypto custody infrastructure firm Fireblocks denied a report that it is in talks to be acquired by Visa.
CoinDesk reported on October 22 that Fireblocks acknowledged market rumors about a Visa acquisition. “We are aware of the rumors regarding Visa’s acquisition of Fireblocks,” the company said. “This is the first we’ve heard of it, and it is not true at this time.”
Axios reported the same day, citing an anonymous source, that talks for Visa to acquire Fireblocks were in the final stage. Axios said Fireblocks was being valued at $2.5 billion in the deal discussions.
Fireblocks raised $550 million in May 2022 at a valuation of $8 billion. The $2.5 billion figure cited in the latest acquisition report is well below that earlier valuation.
CoinDesk also reported that the possibility of a Fireblocks sale has surfaced in recent weeks. Coinbase, the U.S. crypto exchange, has also been mentioned as a potential acquirer.
