Windsor Drake
Transaction · Treasury / Cash Management · 2025

Ripple / Hidden Road 2025

Ripple acquired Hidden Road for $1.3B on January 1, 2025.

Target
Hidden Road
Acquirer
Ripple
Deal value
$1.3B
Announced
January 1, 2025
Sub-sector
Treasury / Cash Management

Transaction overview

  • Ripple announced the acquisition of Hidden Road on January 1, 2025 for $1.3B.

Strategic rationale

Acquisition provides access to institutional prime brokerage, credit, clearing, and liquidity services for enterprise financial clients.

Deal terms & multiples

Deal value
$1.3B
Target revenue
Not disclosed
Target EBITDA
Not disclosed
EV / Revenue
Not disclosed
EV / EBITDA
Not disclosed
Announcement
January 1, 2025
Acquirer
Ripple (Strategic)
Sub-sector
Treasury / Cash Management

Sources

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