SPARKS, Nev. — Blockchains LLC on June 2 announced its acquisition of slock.it, a leading innovative German blockchain development company focused on connecting real-world devices to the blockchain.
Terms of the deal were not disclosed.
According to a news release from Blockchains LLC, the acquisition “will increase Blockchains’ technical capabilities and accelerate development of Blockchains’ digital asset custody and digital identity solutions, the governance model for its planned distributed collaborative entity, as well as a number of the company’s other projects.”
Additionally, Blockchains announced it will support further development and expansion of existing products at slock.it, including Incubed, which connects internet of things (IoT) devices to the Ethereum blockchain, and its IoT-layer solution that addresses the security and interoperability problems in many existing IoT systems.
“This is an exciting acquisition for Blockchains,” Blockchains President David Berns said in a statement. “slock.it’s team of nearly three dozen experienced developers and professionals will allow Blockchains to significantly fast-track its product roadmap and enhance its collaboration efforts.”
Blockchains and slock.it will continue to operate out of their respective offices in the United States (Blockchains owns more than 67,000 acres in Northern Nevada and plans to build a smart city in Painted Rock east of Sparks) and Germany.
The companies expect to substantially increase the capacity of their development teams within the next year.
According to the news release, slock.it founders Christoph and Simon Jentzsch will become Blockchains’ vice president of technology and director of blockchain development, respectively.
“We have the same passion for creating a sharing economy powered by blockchain, and for creating a safe and secure entry point to the third-generation World Wide Web,” Christoph Jentzsch said in a statement.
“This is a natural marriage,” added Blockchains CEO and founder Jeffrey Berns. “With Blockchains’ partnerships and slock.it’s technical prowess, this union allows us to fulfill the promises of blockchain technology and foster an ecosystem that applies blockchain solutions to better our everyday lives.”