Nasdaq completes acquisition of Adenza
01 November 2023 US
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Nasdaq has confirmed the completion of its acquisition of risk management, regulatory reporting and capital markets software provider, Adenza.
The move aims to advance Nasdaq’s transformation, further expanding the company’s capabilities to support financial institutions with ‘mission-critical’ solutions.
In conjunction with the completed transaction, Nasdaq has appointed Holden Sphat, managing partner at Thoma Bravo, to serve as a member of Nasdaq’s board of directors.
The New York-based technology firm says it has “evolved its corporate structure”’ and will now be aligned across capital access platforms, market services and financial technology — which will comprise capital markets technology, as well as regulatory technology.
News of the acquisition was reported in June, where Nasdaq confirmed that the US$10.5 billion acquisition would comprise US$5.75 billion in cash and 85.6 million shares of Nasdaq common stock, based on the volume-weighted average price per share over 15 consecutive trading days prior to signing.
As part of its exit, Thoma Bravo, former majority owner of Adenza, is expected to retain a 14.9 per cent take in Adenza, the financial services software company that was created through the combination of Calypso and AxiomSL.
Commenting on the acquisition, Adena Friedman, Nasdaq chair and CEO, says: “The acquisition of Adenza represents an important milestone in Nasdaq’s ongoing transformation, accelerating our vision to become the trusted fabric of the financial system.
“Nasdaq, with Adenza, is strongly positioned to deepen our strategic relationships with the world’s financial institutions. We are uniquely placed to help our clients navigate rapidly evolving changes in the capital markets and regulatory environment and address their most complex challenges across risk and crime management, compliance and reporting.”
Spaht adds: “We see tremendous opportunity to further enhance Adenza’s strong growth profile and mission-critical product portfolio as part of Nasdaq’s global platform and trusted brand.
“The acquisition of Adenza validates Nasdaq’s transformation into one of the most important software and technology companies across the global financial services ecosystem, and Thoma Bravo is excited to help support Nasdaq in its next chapter of growth.”
The move aims to advance Nasdaq’s transformation, further expanding the company’s capabilities to support financial institutions with ‘mission-critical’ solutions.
In conjunction with the completed transaction, Nasdaq has appointed Holden Sphat, managing partner at Thoma Bravo, to serve as a member of Nasdaq’s board of directors.
The New York-based technology firm says it has “evolved its corporate structure”’ and will now be aligned across capital access platforms, market services and financial technology — which will comprise capital markets technology, as well as regulatory technology.
News of the acquisition was reported in June, where Nasdaq confirmed that the US$10.5 billion acquisition would comprise US$5.75 billion in cash and 85.6 million shares of Nasdaq common stock, based on the volume-weighted average price per share over 15 consecutive trading days prior to signing.
As part of its exit, Thoma Bravo, former majority owner of Adenza, is expected to retain a 14.9 per cent take in Adenza, the financial services software company that was created through the combination of Calypso and AxiomSL.
Commenting on the acquisition, Adena Friedman, Nasdaq chair and CEO, says: “The acquisition of Adenza represents an important milestone in Nasdaq’s ongoing transformation, accelerating our vision to become the trusted fabric of the financial system.
“Nasdaq, with Adenza, is strongly positioned to deepen our strategic relationships with the world’s financial institutions. We are uniquely placed to help our clients navigate rapidly evolving changes in the capital markets and regulatory environment and address their most complex challenges across risk and crime management, compliance and reporting.”
Spaht adds: “We see tremendous opportunity to further enhance Adenza’s strong growth profile and mission-critical product portfolio as part of Nasdaq’s global platform and trusted brand.
“The acquisition of Adenza validates Nasdaq’s transformation into one of the most important software and technology companies across the global financial services ecosystem, and Thoma Bravo is excited to help support Nasdaq in its next chapter of growth.”
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