News linked to both this project and an event.
Odaily reports, Nasdaq-listed Forward Industries has confirmed that it submitted a non-binding proposal to the board of directors of Helius Medical Technologies (HSDT), the parent company of Solana Company, for an all-stock business combination. The HSDT board voted on June 12 to reject the offer and stated that it would not engage in further discussions regarding the transaction.Forward Industries expressed that it is "disappointed and surprised" by this decision, adding that it believes initiating dialogue is in the best interests of both companies and their shareholders. The proposal is indicative in nature, with specific valuation, exchange ratio, and subsequent plans yet to be disclosed.
Solana infrastructure company Helius has announced the acquisition of Light Protocol, whose team will refocus on developing privacy solutions for Solana.Founded in 2021, Light Protocol initially focused on zero-knowledge proof-based privacy tools for Solana before pivoting to co-develop ZK Compression with Helius. Launched in 2024, this solution aims to reduce on-chain data storage costs on Solana via zero-knowledge proofs, supporting large-scale consumer and enterprise applications.This acquisition will drive Light back to its original mission, combining its cryptographic expertise with Helius' infrastructure and distribution advantages to develop ZK privacy protocols for Solana, covering scenarios such as private payments and private DeFi. Helius plans to open up relevant privacy infrastructure to developers in the coming months.The transaction occurs against a backdrop of accelerating consolidation in the crypto industry and tightening fundraising conditions, while also echoing a renewed demand for on-chain privacy. Helius founder Mert Mumtaz stated that privacy will be as fundamental to blockchain scaling as HTTPS was to the internet.