Bakkt to Acquire Distributed Technologies Research in Stock-Based Transaction

Bakkt’s Board Approves DTR Acquisition After Special Committee Review

Under the definitive agreement, Bakkt Holdings Inc. will issue Class A common stock equal to 31.5% of the “Bakkt Share Number,” as defined in a previously disclosed cooperation agreement between the two companies.

Based on current figures, the consideration would result in the issuance of approximately 9.13 million shares to DTR shareholders, including DTR’s founder and principal owner, Akshay Naheta. Bakkt said on Monday that the final share count may change before closing and will be calculated under the cooperation agreement.

The company further stated that the transaction is expected to reduce reliance on third-party infrastructure while accelerating its ability to deliver stablecoin settlement services across payments and banking use cases.

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Completion of the transaction remains subject to customary closing conditions, including regulatory approvals and approval by Bakkt stockholders. The deal was reviewed and approved by an independent special committee of Bakkt’s board composed of Colleen Brown and Mike Alfred, following what the company described as a comprehensive evaluation process.

As part of the transaction, Intercontinental Exchange Inc. (ICE), which beneficially owns about 31% of Bakkt’s outstanding Class A common stock, has agreed to vote its shares in favor of the deal. Bakkt trades on the New York Stock Exchange under the ticker BKKT.

Separately, Bakkt announced it will change its corporate name to “Bakkt, Inc.” effective January 22, 2026, while retaining its existing ticker symbol. The company also plans to host an Investor Day on March 17, 2026, at the New York Stock Exchange (NYSE), with further details to be announced.

Founded in 2018 and headquartered in New York, Bakkt provides institutional digital asset infrastructure spanning bitcoin, tokenization, and stablecoin payments, positioning the DTR acquisition as a step toward consolidating its global settlement platform.

FAQ ❓

• What company is Bakkt acquiring?
  Bakkt has agreed to acquire Distributed Technologies Research Ltd., a stablecoin payment infrastructure provider.
• How is the deal structured?
  The acquisition will be completed through the issuance of Bakkt Class A common stock.
• Does the transaction require approval?
  Yes, it is subject to regulatory approvals and approval by Bakkt stockholders.
• When will Bakkt change its corporate name?
  Bakkt plans to operate as “Bakkt, Inc.” starting Jan. 22, 2026.