TROOPS signs $40M all-share deal to merge with EFFORCE

TROOPS, Inc., the Nasdaq-listed conglomerate based in Hong Kong, has signed a conditional agreement to merge with EFFORCE Group. The deal carries a reported all-share valuation of $40 million. The target is not an obscure startup. EFFORCE was co-founded by Apple co-founder Steve Wozniak, which gives a modest-sized deal a famous name. The goal is to push TROOPS deeper into digital asset infrastructure. Crypto trading and carbon credit transactions sit at the center of the plan. What the agreement actually covers TROOPS (NASDAQ: TROO) announced the conditional sales and purchase agreement on October 12, 2026. The merger still needs regulatory approvals and has to clear customary closing conditions. The $40 million figure is a reported valuation, and it is structured entirely in shares. For context, TROOPS reported fiscal year 2025 revenue of $17.1 million. That puts the reported deal value at more than twice the company’s annual top line. The strategic logic, as TROOPS frames it, is to bolt EFFORCE’s blockchain capabilities onto its existing financial operations. Three areas get named: digital asset trading, carbon credit transactions, and broader financial services. TROOPS President...