Nasdaq to buy financial software developer Adenza for $10.5 billion
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Nasdaq has agreed to buy Thoma Bravo-owned software company Adenza for $10.5 billion. writes Reuters.
One of Nasdaq’s latest acquisitions was the 2020 acquisition of Verafin, a financial crime prevention software company. The deal amounted to $2.75 billion, the agency recalls.
Adenza’s software is primarily used by banks and brokerages, and the deal will allow Nasdaq to further diversify its operations, analysts say. It is noted that Thoma Bravo will receive a 14.9% stake in Nasdaq, which will make the private investment company one of the largest shareholders of the exchange operator.
Nasdaq shares fell nearly 10% to $52.39 on Monday, June 12, as investors saw the deal as a “high bet.” The exchange expects Adenza to generate around $590 million in annual revenue in 2023.
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