The blockchain company MineHub acquired the supply chain digital platform Waybridge at a price of 2.5 million US dollars

On March 8, the Canadian blockchain company MineHub acquired Waybridge Technologies, a commodity ecosystem for metal industry consumers, and created end-to-end digital solutions for the supply chain from mining raw materials to the market. According to the terms of the transaction, MineHub will purchase Waybridge shares at a price of US $2.5 million, which will be merged into the company structure of MineHub. Scott Evans, the founder and CEO of Waybridge, will be appointed as a member of the Advisory Committee of MineHub and assist the MineHub executive team in commercialization and strategy development. （gtreview.com）

Interpretation of this information:

On March 8, MineHub, a Canadian blockchain company, made a deal to acquire Waybridge Technologies, a commodity ecosystem for metal industry consumers. This acquisition created end-to-end digital solutions for supply chain management from mining raw materials to the market. As for the transaction, MineHub will buy Waybridge shares with a price of $2.5 million, and incorporates it into the company structure of MineHub. Scott Evans, the founder and CEO of Waybridge, will become a member of MineHub’s Advisory Committee and assist the MineHub executive team in commercialization and strategy development.

The acquisition of Waybridge Technologies by MineHub is a strategic move aimed at expanding its commodity ecosystem coverage for metal industry consumers. Since the emergence of blockchain technology, it has been widely used in the field of supply chain management. Blockchain technology, combined with smart contracts, can achieve secure and transparent data sharing in every step of business operations, reducing the risk of fraud and improving efficiency. The acquisition of Waybridge Technologies reinforces MineHub’s industry leading position in providing an end-to-end digital solution for the commodity ecosystem.

The market reaction to the acquisition has not been reported yet, but the strategic advantage of the acquisition of Waybridge by MineHub can be noted judging from their clients’ list. MineHub has been providing blockchain technology solutions for many leading metal industry firms, such as Goldcorp, ING Bank, Kutcho Copper and BMO Bank. Additionally, Waybridge has an extensive track record in supply chain digitization.

In summary, MineHub’s acquisition of Waybridge Technologies aimed to expand MineHub’s commodity ecosystem for metal industry consumers. With this acquisition, MineHub will incorporate Waybridge into the MineHub company structure, and Scott Evans, the founder and CEO of Waybridge, will join MineHub’s Advisory Committee. Thus, the acquisition reinforces MineHub’s current market leading position in the provision of end-to-end digital solutions for the commodity ecosystem.