Ripple's former executive Greg Kidd's company has reached a controlling acquisition agreement with Know Labs and launched a Bitcoin financial strategy for it

ChainCatcher news, according to Businesswire, the publicly traded company Know Labs, which focuses on non-invasive health monitoring technology, announced that it has reached a controlling acquisition agreement with fintech investor Greg Kidd's Goldeneye 1995 LLC. Kidd, who previously served as Ripple's Chief Risk Officer, will become the company's CEO and Chairman of the Board after the transaction is completed.

According to the agreement, the acquirer will complete the transaction at a price of $0.335 per share, through a combination of 1,000 bitcoins (at current market price) and cash, with the cash portion used for debt repayment and to supplement working capital. The bitcoins will be included in the company's balance sheet, accounting for 82% of the current market value, implying a valuation of 1.22 times.

Greg Kidd plans to introduce the bitcoin revenue strategy to the public market. The transaction has been unanimously approved by the board and is expected to be completed in the third quarter of 2025.