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Umbrella Network Acquires Blockchain-Based Advertising and Analytics Platform Lucidity
Friday 24 September 2021

Cayman Islands-based decentralized Layer-2 oracle solution Umbrella Network has acquired blockchain-based digital advertising oracle Lucidity, the company said.

The acquisition was completed in August 2021 for an undisclosed amount. This deal will be accretive to Umbrella Network as early as 1Q22.

At the time of this transaction, Lucidity had processed over 600m transactions, with significant transaction growth anticipated this year.

With Lucidity's integration, the Umbrella Network said it will now be the highest transaction volume oracle in the world, achieved through its unique design that allows the aggregation of data.

Built on the Ethereum blockchain, Lucidity's technology resolves data discrepancies so reconciling billing is faster, fraud and waste are eliminated, and enables transparent supply chain evaluation so advertisers know exactly where their budgets are going.

In the initial phases following the acquisition, Lucidity customers will be powered by Umbrella Network, making it the largest scale oracle in the ecosystem.

Umbrella Network is a community-owned Layer-2 oracle network that batches data.
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Date Published: 24/09/2021

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