Talos, a leading provider of crypto trading software and a unicorn backed by industry heavyweights such as Citibank and Andreessen Horowitz (a16z), has sealed a strategic acquisition of Skolem, a prominent DeFi-access platform.

While the financial specifics of the acquisition remain undisclosed, Talos has articulated its vision for leveraging Skolem's capabilities to fortify its on-chain offerings and seamlessly connect institutional clients with a broader spectrum of decentralized finance (DeFi) services.

Anton Katz, the Co-founder and CEO of Talos, elaborated on the acquisition's significance, stating, "This acquisition helps Talos expand our on-chain capabilities and provide clients with access to additional DeFi liquidity pools as well as expand our PMS [portfolio management service] offering to include DeFi services."

The move underscores Talos' commitment to navigating the evolving landscape of digital assets, catering to the burgeoning demand for diversified investment strategies among its clientele. Katz emphasized the growing interest among their clients in embracing DeFi solutions to augment their investment portfolios or extend these capabilities to their own customers through Talos' white-label offering.

Established in 2020, Skolem has emerged as a go-to platform for institutional investors seeking entry into the dynamic DeFi markets. By facilitating a range of services including trading, staking, lending, and liquidity provisioning on DeFi protocols, Skolem has positioned itself as a key player in this rapidly expanding ecosystem. Katz affirmed that Skolem's platform will undergo seamless integration into Talos, amplifying the suite of offerings available to its clientele.

The acquisition of Skolem marks a significant milestone for Talos, signaling its proactive approach to innovation and expansion in the crypto space. Katz revealed that the journey towards acquisition commenced in 2022, with both companies collaboratively exploring synergies. Following nearly a year of negotiations, the deal was officially concluded a few weeks ago, with all necessary approvals secured.

Although the exact financial details of the transaction remain undisclosed, the magnitude of the deal is apparent given Skolem's impressive fundraising history. Notably, Skolem secured $20 million in Series A funding in 2022 from prominent investors including Galaxy Digital, Point72 Ventures, Jump Crypto, and Dragonfly Capital.

Talos' acquisition of Skolem represents its third strategic move in recent times, following the acquisitions of Cloudwall, a crypto risk management platform, and D3X Systems, aimed at enhancing its pre-trade capabilities.

Looking ahead, Talos remains receptive to further expansion opportunities. Katz expressed enthusiasm about the prospect of collaborating with innovative teams to deliver cutting-edge solutions to its global clientele.

Talos, which attained a valuation of $1.25 billion in 2022 during its Series B funding round, continues to enjoy strong backing from a diverse array of investors including Citibank, a16z, Wells Fargo Strategic Capital, BNY Mellon, PayPal Ventures, Castle Island Ventures, and Fidelity Investments. While Katz refrained from disclosing Talos' latest valuation, the company's trajectory suggests a continued commitment to driving innovation and delivering value in the dynamic world of crypto finance.