New York, June 12 (SocialNews.XYZ) Nasdaq on Monday said it has acquired Adenza, a company that develops risk-management and related regulatory software for the financial services market, for $10.5 billion.
Nasdaq acquired Adenza from Thoma Bravo, a leading software investment firm, in cash and shares of common stock.
Upon the closing of the transaction, Holden Spaht, a Managing Partner at Thoma Bravo, is expected to be appointed to Nasdaq's Board of Directors, which will be expanded to 12 members, Nasdaq said in a statement.
"This is an exceptional opportunity to acquire a leading software company that enhances Nasdaq's position at the heart of the global financial system," said Adena Friedman, Chair and CEO, Nasdaq.
"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," Friedman added.
Spaht said that as part of Nasdaq, Adenza will be in a stronger position to build on its impressive momentum and serve an even larger global client base.
"This transaction is an endorsement of the entire Adenza team and what we have built with Bravo, from our market-leading products to the immense value we have delivered for our customers," said Didier Bouillard, Chief Executive Officer at Adenza.
Source: IANS
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