SOL Strategies to Acquire HoudiniSwap for US$18M, Adds US$13M Revenue
SOL Strategies has agreed to acquire HoudiniSwap LLC for US$18 million in cash, note, shares and warrants, adding a fifth revenue stream. HoudiniSwap generated approximately US$13 million revenue in 2025 with US$2.5 billion cumulative transaction volume across 100+ blockchains and integrations with 18 DEXs.
1. Acquisition Overview
SOL Strategies entered into a definitive agreement to acquire privacy-focused cross-chain swap aggregator HoudiniSwap LLC for a total consideration of US$18 million, marking its expansion beyond validator operations into transaction routing infrastructure.
2. Financial Terms
The US$18 million purchase price comprises US$8.25 million in cash, a US$5.75 million six-month promissory note, US$4 million in company shares based on a 90-day VWAP, US$100,000 in warrants, and an earn-out of up to US$10 million tied to EBITDA hurdles.
3. HoudiniSwap Business Profile
HoudiniSwap recorded about US$13 million in revenue during 2025 and has processed over US$2.5 billion in cumulative volume across more than 100 blockchain networks, with integrations spanning 18 decentralized exchanges and major self-custodial wallets.
4. Strategic Rationale
The acquisition diversifies SOL Strategies’ revenue streams, enhances privacy and execution quality in cross-chain liquidity, and leverages HoudiniSwap’s user base and institutional partnerships to strengthen its Solana-centric infrastructure platform.