Nasdaq announced the largest deal in its history

The Nasdaq exchange operator announced a deal to acquire software developer Adenza, owned by investment company Thoma Bravo, for $10.5 billion. This is the largest acquisition in Nasdaq history. 

According to the agreement, Thoma Bravo will receive 14.9% of Nasdaq shares and will become the largest shareholder of the company. It will also get a seat on the Nasdaq board of directors. The company's representatives note that this deal reflects Nasdaq's desire to become a more technology-oriented company and diversify its portfolio of technologies and intellectual property. 

Moreover, the purchase of Adenza will allow Nasdaq to expand its sphere of influence, going beyond operating activities on stock exchanges.

Nasdaq has been actively acquiring other companies for several years in order to expand its activities, starting with the purchase of the owner of the Scandinavian exchange OMX in 2007 for $3.7 billion. After that there was a deal with the International Stock Exchange in 2016 for $1.1 billion and the acquisition of Verafin, a company dealing with software for combating financial crimes, in 2020 for $2.75 billion.

The current deal is planned to be closed within 6-9 months after receiving regulatory approval. The transaction amount is $5.75 billion and includes 85.6 million Nasdaq ordinary shares. 

The announcement of the deal caused a sharp drop in the stock of the exchange operator. The share price decreased by 11.81%, reaching $51 per share. However, analysts believe that this decline is temporary and is due to the market reaction to the news of a major deal.