NFT Investments to Acquire Pluto Digital for £96 Million
- NFT will acquire 100 percent share capital of Pluto.
- The combined entity will become a metaverse company.

NFT Investments (AQSE: NFT) announced on Monday that it has entered into a non-binding agreement to acquire Pluto Digital, a cryptocurrency technology and venture company, for £96 million.
“We are very excited about the prospects of Pluto and NFT merging to create a large global metaverse company,” said Jonathan Bixby, the Executive Chairman of NFT Investments.
“This is a transformational deal that will provide us with the scale to expand and diversify our investment portfolio in a rapidly growing sector and thereby create long-term value for shareholders.”
Conditions of the Deal
Under the proposed agreement, NFT will acquire 100 percent of the issued share capital of Pluto in exchange for 2.4 billion new ordinary shares in NFT, which are trading at 4 pence apiece.
The acquisition
Acquisition
Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There are many ways to acquire or to take the acquisition of property and services. How Companies Utilize AcquisitionsIn finance, the term acquisition is most often used when referring to taking control of a company. An acquisition can be either an agreed deal or a hostile takeover. Companies also may acquire units of a company, property, or other assets. An acquisition is when one business, person, or company purchases most if not of another company's shares to gain control of that company. Buying more than 50% of a target firm's stock and other assets allows the acquirer to make decisions about the newly acquired assets without the approval of the company's shareholders. In finance, there are several types of acquisitions that one speaks of when referring to Acquisitions and Mergers. A horizontal acquisition is when two companies come together with similar products/services. Conversely, a vertical acquisition means two companies join forces in the same industry, but they are at different points on the supply chain.Moreover, a conglomerate represents two companies in different industries join forces, or one takes over the other to broaden their range of services and products. Finally, a concentric acquisition occurs when companies will share customers but provide different services.
Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There are many ways to acquire or to take the acquisition of property and services. How Companies Utilize AcquisitionsIn finance, the term acquisition is most often used when referring to taking control of a company. An acquisition can be either an agreed deal or a hostile takeover. Companies also may acquire units of a company, property, or other assets. An acquisition is when one business, person, or company purchases most if not of another company's shares to gain control of that company. Buying more than 50% of a target firm's stock and other assets allows the acquirer to make decisions about the newly acquired assets without the approval of the company's shareholders. In finance, there are several types of acquisitions that one speaks of when referring to Acquisitions and Mergers. A horizontal acquisition is when two companies come together with similar products/services. Conversely, a vertical acquisition means two companies join forces in the same industry, but they are at different points on the supply chain.Moreover, a conglomerate represents two companies in different industries join forces, or one takes over the other to broaden their range of services and products. Finally, a concentric acquisition occurs when companies will share customers but provide different services.
Read this Term is structured as a reverse takeover of NFT and is currently pending shareholders’ approval. If approved, Pluto shareholders will hold 70.5 percent of the combined business entity.
The conditions of the deal further mandate three Pluto team members to join the board members of the entity, while Bixby will continue to serve as the Executive Chairman.
NFT now have to complete due diligence on Pluto within a period of 90 days. Furthermore, NFT will issue a loan of £5 million to Pluto upon the signing of the Letter of Intent. If Pluto terminates the deal, this loan will be repayable within 30 days, but if NFT backs out, it will be repayable in 90 days.
NFT Investments (AQSE: NFT) announced on Monday that it has entered into a non-binding agreement to acquire Pluto Digital, a cryptocurrency technology and venture company, for £96 million.
“We are very excited about the prospects of Pluto and NFT merging to create a large global metaverse company,” said Jonathan Bixby, the Executive Chairman of NFT Investments.
“This is a transformational deal that will provide us with the scale to expand and diversify our investment portfolio in a rapidly growing sector and thereby create long-term value for shareholders.”
Conditions of the Deal
Under the proposed agreement, NFT will acquire 100 percent of the issued share capital of Pluto in exchange for 2.4 billion new ordinary shares in NFT, which are trading at 4 pence apiece.
The acquisition
Acquisition
Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There are many ways to acquire or to take the acquisition of property and services. How Companies Utilize AcquisitionsIn finance, the term acquisition is most often used when referring to taking control of a company. An acquisition can be either an agreed deal or a hostile takeover. Companies also may acquire units of a company, property, or other assets. An acquisition is when one business, person, or company purchases most if not of another company's shares to gain control of that company. Buying more than 50% of a target firm's stock and other assets allows the acquirer to make decisions about the newly acquired assets without the approval of the company's shareholders. In finance, there are several types of acquisitions that one speaks of when referring to Acquisitions and Mergers. A horizontal acquisition is when two companies come together with similar products/services. Conversely, a vertical acquisition means two companies join forces in the same industry, but they are at different points on the supply chain.Moreover, a conglomerate represents two companies in different industries join forces, or one takes over the other to broaden their range of services and products. Finally, a concentric acquisition occurs when companies will share customers but provide different services.
Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There are many ways to acquire or to take the acquisition of property and services. How Companies Utilize AcquisitionsIn finance, the term acquisition is most often used when referring to taking control of a company. An acquisition can be either an agreed deal or a hostile takeover. Companies also may acquire units of a company, property, or other assets. An acquisition is when one business, person, or company purchases most if not of another company's shares to gain control of that company. Buying more than 50% of a target firm's stock and other assets allows the acquirer to make decisions about the newly acquired assets without the approval of the company's shareholders. In finance, there are several types of acquisitions that one speaks of when referring to Acquisitions and Mergers. A horizontal acquisition is when two companies come together with similar products/services. Conversely, a vertical acquisition means two companies join forces in the same industry, but they are at different points on the supply chain.Moreover, a conglomerate represents two companies in different industries join forces, or one takes over the other to broaden their range of services and products. Finally, a concentric acquisition occurs when companies will share customers but provide different services.
Read this Term is structured as a reverse takeover of NFT and is currently pending shareholders’ approval. If approved, Pluto shareholders will hold 70.5 percent of the combined business entity.
The conditions of the deal further mandate three Pluto team members to join the board members of the entity, while Bixby will continue to serve as the Executive Chairman.
NFT now have to complete due diligence on Pluto within a period of 90 days. Furthermore, NFT will issue a loan of £5 million to Pluto upon the signing of the Letter of Intent. If Pluto terminates the deal, this loan will be repayable within 30 days, but if NFT backs out, it will be repayable in 90 days.