Intercontinental Exchange to acquire Bridge2 Solutions from Updata Partners.

Intercontinental Exchange, an operator of global exchanges and clearing houses, agreed to acquire Bridge2 Solutions, a provider of loyalty solutions for merchants and consumers, from Updata Partners, a venture capital firm. Financial terms were not disclosed. Following the completion of the transaction, Bakkt, a majority-owned subsidiary of ICE, intends to acquire Bridge2 Solutions from ICE. “Bakkt was created to help bring transparency and trust to the previously unregulated digital asset markets. With the launch of the Bakkt Warehouse and Bakkt futures and options markets, the company has achieved quick success with its custody and trading offering. Bakkt’s second round of funding, and its acquisition of Bridge2 Solutions, will help accelerate the development of Bakkt’s consumer application, which has been a key part of our strategy since we first looked at this market,” Jeffrey Sprecher, ICE Founder, Chairman and CEO.