Bakkt Agrees to Acquire Distributed Technologies Research Ltd (Form 8-K)

Bakkt Agrees to Acquire Distributed Technologies Research Ltd.

- Acquisition advances Bakkt's global stablecoin settlement and programmable payments strategy

- Company to operate as "Bakkt, Inc." effective January 22, 2026

- Investor Day scheduled for March 17, 2026 at the New York Stock Exchange

NEW YORK, NY - January 12, 2026 - Bakkt Holdings, Inc. ("Bakkt" or the "Company") (NYSE: BKKT) today announced that it has agreed to acquire Distributed Technologies Research Ltd. ("DTR"), a global stablecoin payment infrastructure provider.

Pursuant to the definitive agreement, and as consideration for DTR, Bakkt will issue shares of its Class A common stock representing 31.5% of the "Bakkt Share Number," as defined in the previously announced Cooperation Agreement between Bakkt and DTR filed with the Securities and Exchange Commission on March 19, 2025. Based on the Bakkt Share Number as of the date hereof, this would result in the issuance of approximately 9,128,682 shares of Class A common stock to the DTR shareholders, including DTR's CEO and principal owner, Akshay Naheta. The final number of shares to be issued will be determined in accordance with the Cooperation Agreement and may change prior to the closing of the transaction. The Company believes this equity consideration appropriately reflects the strategic value of DTR's technology and assets, which are expected to accelerate Bakkt's time-to-market for stablecoin settlement, reduce third-party dependency, and support future revenue generation across payments and banking use cases.

The consummation of the transaction is subject to the satisfaction or waiver of customary closing conditions, including receipt of applicable regulatory approvals and approval by Bakkt's stockholders. The transaction was negotiated, evaluated, and approved by an independent special committee of the Bakkt Board of Directors consisting of Colleen Brown and Mike Alfred, following a comprehensive review process to ensure robust governance for Bakkt and its shareholders.

In connection with the transaction, Intercontinental Exchange, Inc., which beneficially owns approximately 31% of Bakkt's outstanding Class A common stock as of the date hereof, has agreed to vote such shares in favor of the transaction.

Separately, Bakkt announced that it intends to change its corporate name to "Bakkt, Inc." effective January 22, 2026. Following the name change, the Company expects to continue to trade on the New York Stock Exchange under the ticker symbol "BKKT."

"We are pleased to welcome DTR to Bakkt," said Colleen Brown, Director and member of the Special Committee of Bakkt's Board of Directors. "This transaction accelerates Bakkt's evolution toward programmable money and new-age global financial infrastructure and reflects a disciplined approach to capital allocation aligned with long-term platform value creation. It broadens the scope of what our platform can deliver across digital assets and settlement, and creates a strong foundation for the next chapter of Bakkt's growth."

"DTR stood out not only for its technology, but for how closely it aligns with the future of digital payments and banking," said Mike Alfred, Director and member of the Special Committee. "Our integration work over recent months validated that strategic fit. The acquisition will allow Bakkt to consolidate a critical piece of its stablecoin settlement infrastructure and prepares the company to launch its neobanking strategy with multiple distribution partners in the coming months."

"This transaction represents the culmination of a single, cohesive strategy," said Akshay Naheta, CEO of Bakkt and Founder of DTR. "Bringing DTR fully into Bakkt completes the transformation of the company into a unified global financial infrastructure platform, combining Bakkt's market presence and regulatory framework with DTR's technology. Together, we are positioned to unlock new capabilities and efficiencies for merchants, financial institutions, and end users worldwide. Most importantly, this accelerates platform integration and partner adoption as we move into 2026."

Bakkt also announced that it plans to host an Investor Day on March 17, 2026, with additional details to be provided in due course.

About Bakkt

Founded in 2018, Bakkt is building the backbone of next-generation financial infrastructure. The Company provides solutions that enable institutional participation in the digital asset economy - spanning Bitcoin, tokenization, stablecoin payments, and AI-driven finance. With the scale, security, and regulatory compliance demanded by global institutions, Bakkt is positioned at the center of a generational transformation in what money is, how it moves, and how markets operate.

Bakkt is headquartered in New York, NY. For more information, visit: https://www.bakkt.com/| X @Bakkt | LinkedIn

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Source: Bakkt Holdings, Inc.