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Bitcoin Hardware Manufacturer KeepKey Acquires MultiBit Software Wallet

by on May 26, 2016
 

KeepKey, creator of the world’s premier bitcoin hardware wallet and one of America’s fastest-growing digital asset security firms, today announced the acquisition of highly regarded software wallet MultiBit. The acquisition, made entirely in bitcoin, is KeepKey’s first M&A deal since its founding in 2014. Terms of the deal were unannounced.

KeepKey Founder and CEO Darin Stanchfield said that the acquisition of a prominent software wallet would add significant value to KeepKey customers and investors alike. In a statement, Stanchfield said, “We have had a good relationship with the developers behind MultiBit from the beginning. Before KeepKey was generally available, we worked together to ensure compatibility between our products. We have similar target users and, most importantly, hold the same core mission of making payments secure and easy-to-use. KeepKey will continue to be a great home for tens-of-thousands of MultiBit users.”

“At KeepKey, we’re committed to making banking without custodians possible for everyone, not just those that have hardware wallets. MultiBit now fills an important gap in our product offerings,” added Stanchfield.

KeepKey’s acquisition of MultiBit is the first publicly reported M&A deal of 2016 made entirely with Bitcoin. Stanchfield said, “Using bitcoin to acquire Multibit was our clear preference: this was an outstanding opportunity to use the currency of the future in a major transaction without converting to US dollars. Because of its convenience and security, we believe that many companies will make similar deals with digital currencies in years to come.”

A transaction in bitcoin ensured that MultiBit received payment immediately, without being subject to any holds, while KeepKey avoided both wire and currency conversion fees.

MultiBit CEO Gary Rowe said the deal is a major win for all involved. “We have a long-standing partnership with KeepKey and view them as excellent custodians of MultiBit going forward. We are moving on to other projects and are delighted that the KeepKey team have stepped up to continue development of our software. Their commitment means that existing users can continue to use Bitcoin with confidence.”

Seattle-based KeepKey will integrate additional software features to their core products in the near future. Despite the ever-increasing rate of cyber-crime and hacking attempts across the globe, a properly set up KeepKey has never been breached.

“KeepKey is a personal, mobile, and secure vault for bitcoin and other digital assets. It was designed with unparalleled information security technology top of mind, as protecting our customers’ digital wealth is our main and enduring priority,” Stanchfield concluded.

For more information, visit http://www.keepkey.com/.

 

About KeepKey

Seattle-based KeepKey was founded in 2014 by serial entrepreneur Darin Stanchfield. A highly rated hardware wallet, KeepKey provides thousands of bitcoin users with the most secure, convenient, and easy-to-use hardware wallet available today.

Now available for just $99 at retailers across the globe, KeepKey hardware wallet is a mobile, personal, and secure vault for storing bitcoins and other digital assets. Every transaction is reviewed, approved and confirmed through a large OLED display to ensure that the world’s most valuable data remains fully secured. In May 2016, KeepKey acquired MultiBit in an all-bitcoin acquisition.

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