September 02, 2024
By Anjali Kochhar
Alchemy, a blockchain development platform, has acquired Bware Labs, a significant blockchain infrastructure player based in Romania, in its largest purchase to date. The acquisition, which was made public on Thursday, is expected to add 41 developers and engineers from the Bware team to Alchemy’s personnel, increasing it by almost 25%. With this expansion, Alchemy now employs 190 people.
Bware Labs, founded in 2021 by five engineers, has quickly established itself as a significant provider of blockchain infrastructure solutions, focusing on affordable and accessible tooling for Web3 developers. The company’s expertise and innovative solutions have made it an attractive acquisition target for Alchemy, which is looking to expand its footprint beyond the U.S. and into the European market.
The acquisition marks a strategic move for Alchemy, which currently operates primarily out of its headquarters in San Francisco and New York City. By integrating Bware Labs into its operations, Alchemy is poised to strengthen its presence in Europe, a region that represents about a quarter of the Web3 market. This move is seen as a critical step in serving developers better and enhancing Alchemy’s hiring capabilities in the region.
Joseph Lau, Alchemy’s co-founder and CTO, emphasised the importance of the European market in an interview with Coindesk. “The EU represents about a quarter of the Web3 market, and so it’s just even more important for us to be there today, as we look to expand,” said Lau. “So both from a serving-developers-better, and from a hiring standpoint, we really wanted to be in the EU.”
The Bware team will integrate with Alchemy’s existing product teams, contributing to the company’s core infrastructure offerings, including its node API platform. This acquisition not only bolsters Alchemy’s technical capabilities but also enhances its ability to serve a growing global customer base in the rapidly evolving blockchain industry.
About the author
Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.
