Hilbert Group Acquires Enigma Nordic for $32M
Update: 2025-12-20
Description
Swedish investment firm Hilbert Group acquires Enigma Nordic for $32M, gaining access to its high-frequency trading platform. Enigma has handled $5.4B in trading volume this year, boasting a Sharpe ratio above 3.0. The deal includes $7.5M in new Hilbert shares and up to $17.5M in performance earn-outs, with Enigmas team generating $40M in net income for full bonus. Hilbert plans to integrate Enigmas tech into hedge funds and proprietary trading, expanding its institutional crypto products.
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