LONDON, April 14, 2020 /PRNewswire/ -- nChain, a European provider of enterprise-grade public blockchain solutions, today announces that it has acquired CREA, a European software development and implementation firm with deep expertise in Bitcoin and IT security. The acquisition further solidifies nChain's leading position in its field and creates one of the largest Bitcoin development teams in the world, with a headcount of over 120.
nChain and CREA previously worked together on several BitcoinSV infrastructure projects, which form the basis for nChain's proprietary blockchain solutions. These products allow organisations to implement secure data storage, auditability, and payments solutions that can scale on the order of millions of transactions per day.
David Washburn, Ph.D., CEO of nChain, said, "The blockchain industry is about to enter the next phase of growth and we expect to see huge demand for enterprise-grade solutions. The battle for experienced talent will only intensify. The acquisition of CREA puts us in the perfect position to serve the largest and most complicated accounts, and it will help us deliver greater competitive advantage for our clients through more efficient data management. We had the product to back this up - now we also have the people."
CREA's CEO Roman Puhek added, "We couldn't be more excited to be joining forces with nChain. At CREA, we've assembled a roster of world-class blockchain talent and, coupled with the deep knowledge, developer team and reach of nChain, we will be a powerhouse helping businesses harness the potential of blockchain for their biggest challenges. From finance to shipping, from supply chain management to injecting transparency into production processes, blockchain will disrupt the business landscape and we're proud to be at the forefront of it."
nChain, which holds over 1,000 patent applications, recently announced that Calvin Ayre will join the company's Strategic Advisory Board. The founder of CoinGeek Media and Ventures, part of the Ayre Group, also made a sizable investment in nChain citing its potential to be one of the dominant forces in the industry in the coming years.
nChain was advised on the acquisition by Linklaters LLP.
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SOURCE nChain Holdings Ltd.