Nasdaq acquires Adenza for $10.5B. The company has 200 employees in Ukraine

Nasdaq has announced the purchase of Adenza, a developer of software for banks and brokerage offices. According to The Wall Street Journal, the deal will be the largest acquisition in the history of Nasdaq. As AIN.Capital learned, Adenza has 200 employees in Ukraine.

• Nasdaq announced the purchase of software developer Adenza. The amount of the deal is $10.5 billion. If successful, this deal will be the largest acquisition in the history of Nasdaq. The acquisition is another step in Nasdaq’s transition from an operator of trading venues whose revenue fluctuates depending on trading volume to a more technology-based company with more stable revenue.
• Adenza is a software developer that helps manage trades, simplifies risk management and post-trade processing. The company’s developments also simplify the process of reporting to regulators. The company was formed as a result of the merger of Calypso Technologies and AxiomSL in 2021.
• In addition, as AIN.Capital learned, Adenza has 200 employees in Ukraine, most of whom are developers. The company had an office in Kharkiv, which had to be closed during the full-scale invasion. Now the company has no offices in Ukraine.
• The seller is the investment company Thoma Bravo. $5.75 billion of the deal amount will be paid in cash, and 85.6 million common shares will be transferred. To finance the transaction, Nasdaq plans to issue debt obligations in the amount of $5.9 billion. Thus, as a result of the transaction, Thoma Bravo will receive 14.9% of Nasdaq’s outstanding shares and become one of the largest shareholders of Nasdaq.