Hilbert Group, a Swedish company specializing in crypto algorithmic trading, has acquired Enigma Nordic for $32 million. This acquisition provides Hilbert with access to Enigma's market-neutral trading system, which has been effective across global exchanges. Enigma Nordic reported a trading volume of $5.4 billion in 2025, achieving a Sharpe ratio above 3.0. The transaction includes $7.5 million in Hilbert shares and up to $17.5 million in performance-based payments, with $10 million in cash. For Enigma to receive the full payment, it must generate $40 million in net income. Hilbert plans to integrate Enigma's platform into its hedge fund and trading desk, with new product launches expected in the coming quarters. This acquisition reflects the growing demand for scalable crypto trading solutions.