DeFi Technologies, a provider of financial services, agreed to acquire DeFi Yield Technologies, a private company with a proprietary automated yield engine which makes investing in decentralised finance simple and efficient, for $54m. "We are extremely excited to be joining forces with the DeFi Technologies team. We believe that together we will be a global leader in the rapidly growing decentralized finance space. We are looking forward to leveraging DeFi Technologies' existing business and product offerings to accelerate the growth of our smart contracts and our other products. We believe that this merger expedites our common business objectives, among them being to provide wider access and additional on-ramps to simple, secure, risk-adjusted decentralized finance products," Philipp Kallerhoff, DeFi Yield Technologies CEO.