Nasdaq to acquire software firm Adenza for $10.5bn
Nasdaq is set to acquire financial services risk management and regulatory software provider Adenza for $10.5 billion from Thoma Bravo, a software investment firm.
Nasdaq to acquire Adenza for $10.5 billion
The acquisition, which comprises of $5.75 billion in cash and 85.6 million shares of Nasdaq common stock, will help Nasdaq expand its liquidity and integrity platforms, equipping it with risk management, regulatory, compliance and capital markets software.
With Adenza, Nasdaq will also be able to provide support to financial institutions by establishing a multi-asset class, full trade lifecycle platform with regulatory technology solutions.
Together, both companies aim to leverage their “highly complementary” platforms to serve a global client base, with Adenza bringing in additional European banking partnerships to Nasdaq’s strong presence in North America and Asia Pacific.
Adenza was created almost two years ago through the merger of two companies – Calypso, which provides treasury, risk and collateral management workflows to capital markets participants, and AxiomSL, which equips financial institutions with regulatory and compliance software.
“From fast-evolving global regulations to rapidly increasing pressures to modernise infrastructure, our clients are seeking trusted partners equipped to support them in this challenging environment,” comments Adena Friedman, chair and CEO of Nasdaq.
“With Adenza, we can offer an even broader range of mission-critical solutions that enhance the liquidity, transparency, and integrity of the world’s financial system.”
The transaction is subject to regulatory approvals and other closing conditions, and is expected to close within six to nine months.
