Nasdaq to acquire Adenza

 

Nasdaq has agreed to acquire software firm Adenza, owned by Thoma Bravo, in a $10.5B deal, marking Nasdaq's largest acquisition to date.  The move is part of Nasdaq's strategy to strengthen its software business and shift toward a technology-focused entity with more stable revenue streams. Adenza provides software solutions for trading, risk management, and regulatory reporting to banks and other financial institutions. The acquisition is expected to boost Nasdaq's solutions business revenue and help the company diversify beyond its exchange operator role. As part of the deal, the private equity firm Thoma Bravo, which owns Adenza, will receive a 14.9% stake in Nasdaq, making it one of the largest shareholders. The transaction, subject to regulatory approval, is expected to close within nine months. In 2020, Nasdaq bought software company Verafin for $2.75B to enhance anti-crime services. The Adenza deal will expand the reach of these services to more banks, according to CEO Adena Friedman.