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VivoPower Expands Its Assets by Purchasing Shares of Ripple Labs and XRP

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by Giorgi Kostiuk

21 hours ago


VivoPower International has revealed its intention to acquire shares of Ripple Labs, expected to enhance their digital asset strategy related to XRP. Following this announcement, the company’s shares rose by 10%.

Buyout of Ripple Shares

After completing a nearly two-month due diligence process, VivoPower has allocated funding for an initial purchase of $100 million in Ripple shares held in the private equity market. The company will also continue to directly purchase and hold XRP tokens.

Strategic Implications for VivoPower

With this initiative, VivoPower will become the first publicly traded company in the United States to provide its shareholders with access to both Ripple shares and XRP tokens. According to the company’s statement, VivoPower (VVPR) shareholders can expect an increase in value of approximately $5.15 per share for every $10 million worth of Ripple shares purchased.

Market Reaction to the Announcement

Following the announcement of the acquisition of Ripple shares, VivoPower’s shares saw a 10% increase in morning trading. Ripple Labs, backed by investors such as Andreessen Horowitz and Google Ventures, owns 41 billion XRP, which represents about 41% of all XRP in circulation.

Thus, the acquisition of Ripple Labs shares marks a strategic move for VivoPower, strengthening its position in the digital asset market and providing shareholders with new investment opportunities.

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