French IT consultancy firm ON-X Group has acquired 100 percent of Chain Accelerator, a Paris-based blockchain startup incubator that was founded two years ago. The seven-figure deal brings blockchain and cryptocurrency into the buying firm’s advisory repertoire.
Based in the startup campus Station F, Chain Accelerator has built an international ecosystem that includes researchers, governmental institutions, startups and investors, educating and advising on blockchain technology and cryptocurrencies. The group is also a co-organizer of the Paris Blockchain Week Summit, which has brought together 2,500 attendees, 120 speakers and 50 sponsors from around the world.
“We have demonstrated, with a reduced team, our capacity to work on major global projects and to become an internationally recognized player,” says President Nicolas Cantu. “With the new resources and talents that ON-X will provide for us, we will be able to deliver ambitious projects from start to finish and to position ourselves as a European leader in the blockchain and cryptocurrency space.”
Chain Accelerator will continue to operate as an independent entity with all current management in place. Founder and CEO of ON-X Group Louis Polette says the acquisition will build the consultancy firm’s offering in deeptech, while strengthening existing areas of expertise such as cybersecurity, cloud, and digital infrastructures and services.