One of the largest exchanges Coinbase reportedly purchased San Francisco-based Blockspring company that was backed by Andreessen Horowitz.
The company wrote in the press release published this week:
"Today, we want to share some news about the next chapter for Blockspring – the Blockspring team is joining Coinbase."
Blockspring offers solutions that may help developers to automate the process of gathering and processing the information from application programming interfaces (APIs) and store the results in Excel and Google Sheets.
For reference, the company held funding round in 2015 and managed to get $3.4 million investments led by Andreessen Horowitz, SV Angel, and Y Combinator.
According to the report, Blockspring will keep running as an independent entity after the completion of the purchase. Notably, any adjustments to the business will not affect current and new clients.
"Joining Coinbase was a no-brainer for a number of reasons including its commitment to establishing an open financial system and the strength of its engineering team, led by Tim Wagner (formerly of AWS Lambda)...And now we’ll get to push these goals forward along with the talented folks at Coinbase to make something greater than we could on our own,” the press release reads.
Meanwhile, Tim Wagner in Coinbase also made comments on this deal:
"They’ve built an impressive platform that connects hundreds of different APIs and we’re excited for them to continue their work here at Coinbase!"
The companies did not comment on the cost of the deal so far.