International law firm Simmons & Simmons has advised Torus Labs – also known as Web3Auth – a leading provider of Web3 wallet infrastructure, in the sale of substantially all of its assets to ConsenSys.
The transaction marks a significant milestone in the Web3 and blockchain technology sector. The acquisition will allow ConsenSys to significantly improve the capabilities of MetaMask, a popular crypto wallet.
The deal was led out of the firm’s Singapore office by Digital Business partner Yingyu Wang alongside Supervising Associates Alexis Ng and Carl Lim and Associates Amanda Loh and Shannon Ker.
Commenting on the transaction, Yingyu Wang said: “We are thrilled to have been part of the team advising Torus Labs on this landmark transaction with ConsenSys. This deal is a testament to the growing significance of the Web3 and blockchain technology sector, highlighting its transformative potential in reshaping digital interactions and financial systems. As the sector continues to evolve, we are excited to witness and contribute to the innovative advancements that Web3 and blockchain technologies bring to the global digital landscape.”
The transaction follows recent deals in the blockchain technology space from the Simmons’ Digital Business and Emerging Technology Group.
