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Nasdaq has recently completed its largest acquisition to date, acquiring software provider Adenza as part of its transformation into a comprehensive financial-services provider.

  • Acquisition Details: Purchased from Thoma Bravo for $10.5B in June, Adenza will now become part of a new financial-technology division within Nasdaq. The deal also gives Thoma Bravo a seat on Nasdaq’s board and a 14.9% stake, making it one of the company’s largest shareholders.
  • Structure Change: This acquisition has triggered a structural overhaul within Nasdaq, with Adenza’s management and sales team being integrated into the new division. This now sits alongside the existing market-services and capital access platforms divisions.
  • Leadership: Nasdaq President Tal Cohen will lead both the market-services and financial-technology segments, while Nelson Griggs will continue as president of capital access platforms.
  • Adenza’s Role: Born from the merger of Calypso Technology and AxiomSL by Thoma Bravo in 2021, Adenza provides software to various sectors of the financial-services industry, aiding in regulatory reporting, compliance, and risk management.
  • Revenue Diversification: Nasdaq has been striving to reduce its reliance on data and transaction-generated revenue, opting for more predictable revenue streams instead.
  • Purpose of Acquisition: This acquisition is geared towards enhancing Nasdaq’s growth by attracting new clients and expanding relationships with existing ones.

Nasdaq’s acquisition of Adenza marks a crucial step in the company’s evolution, shifting its focus more towards stable revenue streams and expanding client relationships. This strategic move is expected to significantly propel Nasdaq’s growth in the coming years.

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