Nasdaq just announced a $10.5 billion deal to scoop up a behind-the-scenes tech provider for Wall Street
In the wake of the deal, Nasdaq's solutions business will account for 77% of the company's total revenue. Meanwhile, revenue from trading will represent the remaining 23%.
"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. Nasdaq aspires to be that partner every day, and with Adenza we can offer an even broader range of mission-critical solutions that enhance the liquidity, transparency, and integrity of the world's financial system," Freidman said of the latest acquisition.
The deal also represented a win for investment banks dealing with a year-long lull in activity. Goldman Sachs and JPMorgan served as financial advisors to Nasdaq, with both firms also providing bridge financing for the deal. For Thoma Bravo and Adenza, Qatalyst Partners served as the lead financial advisor, along with help from Barclays, Citi, Evercore, HSBC, Jefferies, and Piper Sandler. Subscribe to push notifications
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