The acquisition is valued at US$10.5 billion in cash and stock, Nasdaq said in a statement on Monday. Thoma Bravo, the buyout firm that owns Adenza, is set to get a 14.9 per cent stake in Nasdaq and a seat on the board as part of the deal, the company said.
“We’re trying to make sure we’re buying the best-in-breed companies to solve and serve clients so that we can really be the best partner we can be to banks and brokers around the world,” Friedman said in an interview. Nasdaq, the second-largest stock exchange in the U.S., bills itself as a technology company. Beyond running the exchange, the New York-based firm offers data, analytics, software and other surveillance services to clients including publicly traded and closely held companies and investors.
The firm has been focused on diversifying its revenue sources beyond the exchange business, where shares in public companies trade. In recent years Nasdaq has made investments in software, data and other offerings. It also expanded technology tied to protection and anti-crime software through its acquisition of Verafin, with products that help investigate and report instances of money laundering, fraud and manipulation for banks and trading firms.
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