Nasdaq is acquiring financial risk software company Adenza for $10.5bn in its largest-ever such deal, as the world’s big exchange operators expand beyond their core units into more stable revenue streams such as data and risk management.
The New York group said on Monday the cash-and-stock purchase from private equity group Thoma Bravo would “significantly” enhance Nasdaq’s offerings in regulatory technology, compliance and risk management.
Shares in the exchange, best known as the listing home of names such as Apple and Meta, were almost 13 per cent lower in midday trade and it was downgraded one notch by Standard & Poor’s to triple B.
Read the full story on the Financial Times here.