TRKA - Troika Media Group subsidiary acquires Redeeem a crypto/NFT platform

Redeeem Acquisition, subsidiary of Troika Media Group ([[TRKA]] +4.6%) closes acquisition of Redeeem, a fintech platform that empowers businesses to digitize any asset and build their own blockchain-based payment solutions. RAC has acquired substantially all of the assets and approximately $165,000 of specified liabilities of Redeeem for $1.21M in cash and $10.89M in common stock of TMG that vest over three years. Since its inception in 2018, Redeeem has processed over $10M in crypto payments and manages over $1M a month in trading volume.This opportunity will expand revenue streams for TMG.“We believe this is a game-changing transaction for both companies and achieves unique and complementary strategic objectives of taking the Company into the new digital era," said Robert Machinist, Troika’s Chairman and CEO.

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Troika Media Group subsidiary acquires Redeeem, a crypto/NFT platform