Perlin Buys Out Dispatch Labs Blockchain Development Project For Undisclosed Amount
- A quick glance at the terms of the deal show us that Dispatch’s ex CTO Zane Witherspoon will now serve as Peril’s tech development head.
- As things stand, the financial aspects (i.e. tx details) of the deal are still not clear.
As per an announcement made earlier today by a spokesperson for Singapore-based blockchain firm Perlin, the company has just bought out another blockchain startup called Dispatch Labs. In relation to the matter, it is being reported that Perlin has also acquired Dispatch’s talent pool as well as the firm’s “provisional and non-provisional United States patents”.
Dispatch’s previous CTO — Zane Witherspoon — will now be heading Perlin’s latest development activities.
At press time, the monetary specifics of the deal have not yet been disclosed.
Additionally, it bears mentioning that this latest acquisition comes at a time when Dispatch Labs was being faced with huge financial losses.
For those of our readers who may not remember, Dispatch Labs was able to raise a whopping sum of $13 million (via a series of private fundraisers) during the first quarter of 2018. However, owing to the market slump that rocked the industry all through last year, the value of this raised capital dropped quite considerably.
Over the past six months or so, Perlin has been involved with a number of blockchain projects for various major companies such as:
(i) Asia Pacific Rayon: One of Asia’s first fully integrated viscose rayon producers.
(ii) International Chamber of Commerce: The world’s largest business conglomerate consisting of more than 45 million businesses (including big name players such as Amazon, McDonalds and PayPal.)