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Nasdaq deepens fintech push with US$10.5B Adenza deal

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Nasdaq on Monday said it will buy Thoma Bravo-owned software firm Adenza for US$10.5 billion, in what would be the exchange operator's biggest acquisition as it speeds up its push to become a more tech-focused company.

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Nasdaq has diversified more into businesses less affected by market fluctuations, such as anti-financial crime software and ESG services under Friedman, with recurring revenue from non-market units making up roughly three-quarters of the total. It intends to issue about 14.5% of its outstanding shares to the owners of Adenza, which is controlled by Thoma Bravo.

 

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Nasdaq to buy financial software firm Adenza for US$10.5-billion in cash and stock dealThe deal, comprising $5.75-billion in cash and 85.6 million shares of Nasdaq common stock, comes as the exchange operator tries to reposition itself as a financial technology company
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