Crypto Development Company TechRyu Acquired By Vacuumlabs Group

Blockchain, News | October 15, 2019 By:

FinTech firm Vacuumlabs Group has acquired software development house TechRyu for an undisclosed amount.

Vacuumlabs Group is a global center of excellence for digital design and engineering that aims to solve big technology problems for major banks, FinTechs, VC’s, scale-ups and start-ups. Operating across 17 countries with more than 200 employees worldwide, the company’s focus is in the areas of FinTech, blockchain/crypto, and digital banking.

TechRyu is a software development house that builds solutions on top of innovative technologies. The company is part of the NKB Group, an investment bank and advisory firm focused on blockchain that offers a full-service solution for clients who want to access the new world of crypto assets, with expertise in wealth and asset management, brokerage, initial coin offering (ICO) advisory, and principal investment. NKB also provides tailor-made technical, legal and tax solutions regarding blockchain investment.

Vacuumlabs said that it acquired TechRyu to further boost their crypto/blockchain software development efforts. As part of the acquisition, Vacuumlabs and NKB Group have formed a partnership that will focus on strengthening the development and analytical capabilities for leading crypto companies worldwide. The two parties will work closely together to provide enhanced levels of support to their portfolio companies and ecosystem partners in terms of security, technology, technical architecture and tech compliance.

“We are excited about the opportunity to work together with Vacuumlabs in the Crypto/Blockchain space,” said Chris Baxter, Co-founder of NKB Group. “Together, we believe we can bring global best-in-class technology and development expertise to a select group of chosen crypto companies who are working on the kind of innovation that can change the world. Through our collaboration, we seek to be the bridge between traditional finance and the blockchain world.”

The main objective of the partnership is to support an exclusively selected number of crypto companies with expertise from global best-in-class crypto/blockchain developers by the end of 2020.

“The TechRyu acquisition represents a key milestone in the development of Vacuumlabs, enabling us to further grow our position as thought leaders and developers in this space,” said Samuel Hapák, CEO of Vacuumlabs. “Equally, this partnership with NKB Group will raise our profile and enable us to work with some of the leading crypto/blockchain companies globally.”