Nasdaq completes acquisition of Adenza
01 November 2023 US
Image: FAHMI/stock.adobe.com
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鈥檚 transformation, further expanding the company鈥檚 capabilities to support financial institutions with 鈥榤ission-critical鈥� solutions.
In conjunction with the completed transaction, Nasdaq has appointed Holden Sphat, managing partner at Thoma Bravo, to serve as a member of Nasdaq鈥檚 board of directors.
The New York-based technology firm says it has 鈥渆volved its corporate structure鈥濃�� and will now be aligned across capital access platforms, market services and financial technology 鈥� 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: 鈥淭he acquisition of Adenza represents an important milestone in Nasdaq鈥檚 ongoing transformation, accelerating our vision to become the trusted fabric of the financial system.
鈥淣asdaq, with Adenza, is strongly positioned to deepen our strategic relationships with the world鈥檚 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.鈥�
Spaht adds: 鈥淲e see tremendous opportunity to further enhance Adenza鈥檚 strong growth profile and mission-critical product portfolio as part of Nasdaq鈥檚 global platform and trusted brand.
鈥淭he acquisition of Adenza validates Nasdaq鈥檚 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.鈥�
The move aims to advance Nasdaq鈥檚 transformation, further expanding the company鈥檚 capabilities to support financial institutions with 鈥榤ission-critical鈥� solutions.
In conjunction with the completed transaction, Nasdaq has appointed Holden Sphat, managing partner at Thoma Bravo, to serve as a member of Nasdaq鈥檚 board of directors.
The New York-based technology firm says it has 鈥渆volved its corporate structure鈥濃�� and will now be aligned across capital access platforms, market services and financial technology 鈥� 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: 鈥淭he acquisition of Adenza represents an important milestone in Nasdaq鈥檚 ongoing transformation, accelerating our vision to become the trusted fabric of the financial system.
鈥淣asdaq, with Adenza, is strongly positioned to deepen our strategic relationships with the world鈥檚 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.鈥�
Spaht adds: 鈥淲e see tremendous opportunity to further enhance Adenza鈥檚 strong growth profile and mission-critical product portfolio as part of Nasdaq鈥檚 global platform and trusted brand.
鈥淭he acquisition of Adenza validates Nasdaq鈥檚 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.鈥�
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