Carrollton-based holding company JBB Advanced Technologies will sell its subsidiary digital marketing innovator Tronic to Tronic Ventures in a deal valued at roughly $12.25 billion in cash and shares.
The deal was announced by John B. Billingsley, chairman and CEO of JBB Advanced Technologies, and attorney and business investor Christina Marshall, owner of Tronic Ventures.
“Tronic’s platform leverages the emergence of Web3, changing how internet users engage with information by offering completely immersive experiences,” said Billingsley, whose company acquired Tronic in late 2022. “Given my experience with Christina, I’m very confident that she has the technological understanding, the market vision, and business acumen to build Tronic into a multi-billion-dollar business.”
Tronic develops technology to enhance the accessibility and usability of Web3 gamification, creating the next generation of online platforms for organizations to enhance engagement and loyalty among targeted audiences, JBB said.
Utilizing Web3 distributed ledger technology, AI performance optimization, and blockchain technology, Tronic builds hyper-personalized online interactive scenarios, which include secure enrollment, event verification, game design settings, secure virtual wallets for reward tokens, reward controls, and real-time analytics, the company said.
The industries targeted for these offerings include education, entertainment, health and wellness, hospitality, membership associations, non-profits, and retail, among countless others, according to JBB.
‘Limitless’ applications of Web3
Marshall said the growth of digital marketing with the advent of Web3 is exploding across the globe.
“This technology is changing how businesses operate and Internet users interact with digital worlds, with the primary objective to create more meaningful connectivity,” Marshall said in a statement. “Increasing digitization across many diverse sectors is expected to result in increased traction of Web3 and revenue growth and minimized gap between physical and digital environments. The applications are global and limitless.”
JBB Advanced Technologies said it drives innovation at the intersection of blockchain technology, artificial intelligence, and clean energy by creating and acquiring platforms and building operations to reshape the world in a sustainable and profitable manner.
Bell Nunnally, including partners Jarod Moss and Heath Cheek, provided legal representation to JBB Advanced Technologies on the transaction.
Earlier big acquisition of a Billingsley company
In 2022, Billingsley’s Tri Global Energy, one of America’s leading developers of wind and solar energy projects, was sold for $270 million to Enbridge, the largest energy company in Canada.
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