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JBB Advanced Technologies LLC is selling a blockchain subsidiary on the cutting edge of blockchain technology for $12.25 billion, which would be one of the largest M&A deals in North Texas this year.
Carrollton-based JBB announced March 4 it has reached an agreement to sell Tronic to a company affiliated with one of its own executives.
Tronic Ventures will buy the software company through a "friendly transaction" of cash and shares. Tronic Ventures is tied to attorney and business investor Christina Marshall, who has served as Tronic's president since 2021.
JBB is a holding company founded by Dallas entrepreneur John Billingsley in 2021.
Tronic is part of what's known as "Web3," which revolves around decentralized ledgers known as blockchains. Tronic uses artificial intelligence to build "hyper-personalized" online loyalty programs aimed at helping companies, nonprofits and other organizations increase engagement with their audiences.
"Given my experience with Christina, I am very confident that she has the technological understanding, the market vision and business acumen to build Tronic into a multibillion-dollar business," Billingsley said in a statement.
Marshall said Tronic is poised to take advantage of the ongoing growth of digital marketing combined with blockchain technology.
"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," Marshall said. "The applications are global and limitless."
JBB, led by Billingsley, acquired Tronic in late 2022. Billingsley previously founded Tri Global Energy and built it into a top developer of renewable energy projects like wind farms and utility-scale solar projects. He sold Tri Global to Calgary, Canada-based Enbridge Inc. in September 2022 for $270 million.
Following the sale of Tri Global, Billingsley started JBB to deliver renewable energy sources to power blockchain and AI-based innovations.
