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- Nasdaq-listed TROOPS Inc. signed a conditional agreement to acquire blockchain and sustainability company EFFORCE Group.
- Co-founded by Steve Wozniak, EFFORCE uses blockchain to track energy-efficiency projects and operates the WOZX token.
- The proposed transaction remains subject to regulatory approvals, closing conditions and undisclosed financial terms.
Nasdaq-listed TROOPS Inc. has signed a conditional agreement to acquire EFFORCE Group, the blockchain, and sustainability company co-founded by Apple co-founder Steve Wozniak. The proposed combination is intended to give TROOPS access to EFFORCE’s digital asset infrastructure and expand its push into crypto and tokenized environmental markets.
TROOPS said Wozniak is expected to remain an EFFORCE shareholder following completion of the proposed transaction. Financial terms were not disclosed, and the deal remains subject to regulatory approvals, customary closing conditions and other requirements in the agreement.
TROOPS Targets Crypto and Environmental Assets
TROOPS trades on Nasdaq under the ticker TROO and operates businesses spanning financial technology, lending, property investment and insurance-related services. The EFFORCE transaction would add blockchain infrastructure and digital asset capabilities to that mix.
The companies plan to explore crypto trading, financial services and sustainability-linked markets, including carbon credits and green certificates. TROOPS said the combination is intended to serve institutional and commercial clients across several digital-asset business lines. TROOPS CEO Damian Thurnheer described the transaction as part of the company’s digital-asset expansion.
“This merger represents a significant milestone for TROOPS as we continue to expand our digital asset infrastructure and diversified business platform.”
EFFORCE Links Blockchain With Sustainability Projects
Wozniak co-founded EFFORCE in 2020 around the use of blockchain for energy-efficiency and environmental projects. Its platform uses blockchain infrastructure to track participation in energy-efficiency projects and distribute associated platform rewards.
EFFORCE also operates the WOZX ERC-20 token, which provides access to platform benefits including project participation and fee discounts. The token remains unavailable to U.S. persons through EFFORCE’s offering framework.
Deal Has Not Closed
The agreement places EFFORCE alongside a publicly traded company but does not amount to a separate Nasdaq listing for EFFORCE or WOZX. TROOPS remains the Nasdaq-listed entity, and the proposed acquisition must still satisfy its closing requirements.
The companies did not provide a completion date in the announcement. Wozniak’s expected continued shareholding means he would retain an interest in EFFORCE if the transaction closes as proposed.
