Offchain Labs acquires Prysmatic Labs team

Offchain Labs, the parent company of Arbitrum solutions, has just acquired the software team Prysmatic Labs.

Offchain Labs acquires Prysmatic Labs team

Offchain Labs has just made a move to acquire companies to expand its influence on the Ethereum ecosystem. This information was confirmed by Arbitrum on its Twitter page:

 

Accordingly, Prysmatic Labs (the name targeted by Offchain Labs) is the team that develops and operates the Prysm software, the solution used by 43% of Ethereum nodes to support the Proof-of-stake consensus mechanism.

Prysmatic Labs will focus on developing its Prysm software after being acquired by Offchain Labs. At the same time, the parent company will focus on developing scalable solutions for Ethereum such as Arbitrum or Arbitrum Nova.

Offchain Labs CEO Steven Goldfeder said:

“Prysmatic Labs has a talented team of engineers and their contribution to the Ethereum ecosystem is evident in their already popular products.”

Meanwhile, the founder of Prymatics Labs, Raul Jordan, shared:

“Both companies are focused on building infrastructure products for Ethereum. At the same time, we believe that the success of Ethereum will be the common goal of both after this transaction is conducted.”

FoxCryptoNews summary


Oct 13, 2022

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