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Crypto Platform Ziglu Courting Buyers After Robinhood Deal Collapses: Report

Crypto platform Ziglu is talking with buyers interested in acquiring it for a lower price following the collapse of its acquisition deal with Robinhood (HOOD), Sky News reported on Thursday.

The London-based firm is in discussions with a number of interested parties and is hiring investment bankers to oversee the sale, according to the report.

The firm is also looking to raise around 2 million british pounds ($2.46 million) at a valuation of $12.3 million to enable it to continue operating until a sale is agreed.

Robinhood agreed to acquire Ziglu for $170 million in a deal that would have given the U.S. online brokerage a fully regulated arm in the U.K. However, it cut the offer to $72.5 million in August and the deal subsequently collapsed.

(By Jamie Crawley)

Robinhood Crypto
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