TROOPS Agrees to Acquire Steve Wozniak-Backed EFFORCE Group

Hong Kong-headquartered conglomerate TROOPS, Inc. (NASDAQ: TROO) entered into a conditional sales and purchase agreement to acquire blockchain infrastructure provider EFFORCE Group on Oct. 12 ¹. The deal integrates EFFORCE's digital asset platforms and regulatory licensing framework into TROOPS' existing financial technology operations ¹.

EFFORCE, co-founded by Apple co-founder Steve Wozniak, focuses on energy-efficiency funding and blockchain solutions ¹. Wozniak will retain a shareholder stake in EFFORCE following the completion of the transaction ¹. According to both companies, the deal will expand TROOPS beyond traditional crypto services into environmental digital verticals, including carbon credit settlement and green certificate trading ¹.

Broadening Digital Asset Infrastructure

TROOPS currently runs financial technology platforms alongside Hong Kong money lending, property investments, immigration advisory, and insurance referral businesses ¹. Through the acquisition, the combined entity plans to deploy EFFORCE's licensing footprint to serve institutional and commercial counterparties across international markets ¹.

"The combination of EFFORCE's licensing framework, digital asset expertise, and sustainability-focused initiatives with TROOPS' market presence creates a strong foundation for future development across multiple business verticals," EFFORCE CEO Sergio Carloni stated ¹. TROOPS President and CEO Damian Thurnheer noted that the merger forms part of the conglomerate's strategy to broaden its digital asset infrastructure ¹.

Final execution of the transaction remains subject to customary closing conditions, regulatory approvals, and the satisfaction of conditions precedent outlined in the purchase contract ¹. The broader digital asset market registered modest movements at the time of writing, with $BTC trading around $82,510.