The combination of Nasdaq’s artificial intelligence and cloud capabilities with Adenza’s modular solutions and optimised go-to-market operating model is expected to bolster the value offered to clients with a broader, more scalable suite of software and technology solutions
Nasdaq, a US-based technology company catering to the global financial system, has agreed to acquire mission-critical risk management and regulatory software provider Adenza from Thoma Bravo in a cash and stock deal worth $10.5bn.
As per the terms of the agreement, Nasdaq will offer $5.75bn in cash and 85.6 million shares of its common stock as consideration.
Nasdaq has also secured fully committed bridge financing for the cash component of the consideration and plans to issue about $5.9bn of debt between signing and completion.
Upon the completion of the deal, Nasdaq will transfer nearly 14.9% of the company’s shares to the owners of Adenza.
Based in the US, Adenza was formed through the combination of end-to-end treasury, risk and collateral management workflows provider Calypso and regulatory and compliance software firm AxiomSL.
Adenza CEO Didier Bouillard said: “This transaction is an endorsement of the entire Adenza team and what we have built with Thoma Bravo, from our market-leading products to the immense value we have delivered for our customers.
“Together with Nasdaq, we will be in an even stronger position to take advantage of the growing market opportunities and to provide customers with expanded solutions to solve their most complex problems.”
Through the acquisition of Adenza, Nasdaq aims to offer extensive support to financial organisations by establishing a multi-asset class and full trade lifecycle platform with better regulatory technology solutions.
The combination of Nasdaq’s artificial intelligence (AI) and cloud capabilities with Adenza’s modular solutions and optimised go-to-market operating model is expected to bolster the value offered to clients with a broader, more scalable suite of software and technology solutions.
Besides, Adenza will enhance Nasdaq’s offerings across a wider range of regulatory technology, compliance, and risk management solutions.
Nasdaq chair and CEO Adena Friedman said: “The acquisition of Adenza brings together two world-class franchises steeped in market infrastructure, regulatory, and risk management expertise at a time when financial institutions are navigating some of the most complex market dynamics in history.
“From fast-evolving global regulations to rapidly increasing pressures to modernize infrastructure, our clients are seeking trusted partners equipped to support them in this challenging environment.”
Subject to regulatory approvals and other customary conditions, the deal is anticipated to be complete within six to nine months.