Solmate plans to acquire digital asset company RockawayX in all-stock transaction

According to Foresight News, Solmate (ticker: SLMT), a Solana infrastructure company focused on the Abu Dhabi market, has signed a non-binding term sheet to acquire digital asset company RockawayX in an all-stock transaction. The acquisition will create an institutional cryptocurrency group with assets under management and third-party interests exceeding $2 billion. The specific acquisition amount was not disclosed. The combined company will integrate RockawayX's infrastructure, liquidity and asset management businesses into Solmate, which is transitioning from passive digital asset fund management to an operational cryptocurrency business, and will continue to trade under the ticker SLMT.

Solmate CEO Marco Santori will lead the group, while RockawayX CEO Viktor Fischer will run the RockawayX subsidiary and serve as Solmate's executive chairman. RockawayX is the blockchain business arm of venture capital firm Rockaway Capital, which provides on-chain market making, lending and other services. The company also manages venture capital and credit funds that collectively oversee approximately $1.04 billion in assets, while approximately $1.1 billion in assets are pledged on its verification nodes.

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