### How AI-Powered Due Diligence Accelerated Kraken’s $1.5 Billion Acquisition
Kraken, a leading cryptocurrency exchange, leveraged AI startup Termina to streamline due diligence for its $1.5 billion acquisition of NinjaTrader, a retail trading platform. Traditionally, such analyses take weeks of meticulous review by a team of six employees, examining financials, legal risks, and operations. However, Termina’s AI-powered platform condensed this process into just hours, enabling Kraken to swiftly validate NinjaTrader’s financial health, customer retention, and growth potential. The AI tool provided insights that aligned with Kraken’s strategy to attract active futures traders, allowing the team to move faster without sacrificing accuracy.
### The Rise of AI in Financial Deal-Making
Termina, a Silicon Valley AI startup spun out of VC firm Tribe Capital, specializes in automating due diligence by analyzing financial data, operating ledgers, and customer metrics. For Kraken, Termina conducted a deep dive into NinjaTrader’s business, confirming its revenue growth, customer stickiness, and unit economics—key factors in justifying the acquisition. The AI-generated reports resembled traditional consulting analyses but were delivered in a fraction of the time, enabling Kraken’s corporate development team to evaluate more deals efficiently. While Kraken still relied on traditional advisors like PJT Partners and Ernst & Young, AI significantly reduced the workload, compressing the deal timeline to just five or six weeks.
### The Future of AI in M&A Due Diligence
Termina’s platform highlights how generative AI is transforming financial deal-making by automating data-heavy tasks that once required armies of analysts. The technology identifies discrepancies in financial disclosures, validates business synergies, and flags potential risks—all while providing traceable source data for verification. For Kraken, AI didn’t uncover unexpected red flags but instead reinforced the acquisition’s rationale, giving executives confidence in NinjaTrader’s performance metrics. As AI adoption grows in finance, tools like Termina could become indispensable for firms looking to accelerate M&A processes while maintaining rigorous due diligence standards. Without AI, Kraken’s team might have still closed the deal—but with far more sleepless nights.
Ez a cikk a Neural News AI (V1) verziójával készült.
Forrás: https://www.businessinsider.com/how-ai-was-used-kraken-ninjatrader-acquisition-2025-4.