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Tag: NDAQ

  • Nasdaq stock dives after deal to buy Adenza for $10.5 billion in cash and stock from Thoma Bravo

    Nasdaq stock dives after deal to buy Adenza for $10.5 billion in cash and stock from Thoma Bravo

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    Shares of Nasdaq Inc.
    NDAQ,
    +0.28%
    dove 5.1%, enough to pace the S&P 500’s premarket decliners Monday, after the securities trading, clearing and listing company announced an agreement to buy software company Adenza for $10.5 billion in cash and stock from Thoma Bravo. The terms of the deal include $5.75 billion in cash and 85.6 million shares of Nasdaq common stock, which will be issued to the owners of Adenza after closing of the deal, expected to occur within six to nine months. The number of shares represents 17.4% of Nasdaq’s shares outstanding. Nasdaq plans to issue 5.9 billion of debt for the cash portion of the deal. “With Adenza, we will have a more complete suite of essential software and technology solutions that make managing risks and complying with regulations simpler and more efficient for our clients,” said Tal Cohen, president of market platforms at Nasdaq. Adenza is expected to have $590 million of revenue in 2023, with annual recurring revenue growth of 18%. Nasdaq’s stock has lost 5.7% year to date through Friday, while the S&P 500
    SPX,
    +0.11%
    has gained 12.0%.

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  • NDAQ Stock Price | Nasdaq Inc. Stock Quote (U.S.: Nasdaq) | MarketWatch

    NDAQ Stock Price | Nasdaq Inc. Stock Quote (U.S.: Nasdaq) | MarketWatch

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    Nasdaq, Inc. is a holding company, which engages in trading, clearing, exchange technology, regulatory, securities listing, information, and public and private company services. It operates through the following segments: Market Technology, Investment Intelligence, Corporate Platforms, and Market Services. The Market Technology segment is a global technology solutions provider and partner to exchanges, clearing organizations, central securities depositories, regulators, banks, brokers, buy-side firms, and corporate businesses. The Investment Intelligence segment includes the firm’s Market Data, Index, and Analytics businesses. The Market Data business sells and distributes historical and real-time market data to the sell-side, the institutional investing community, retail online brokers, proprietary trading shops, other venues, Internet portals, and data distributors. The Index business develops and licenses Nasdaq-branded indexes and financial products. The Analytics business provides asset managers, investment consultants, and institutional asset owners with investment insights and workflow solutions. The Corporate Platforms segment includes the company’s Listing Services and IR & ESG Services businesses. These businesses deliver critical capital market and ESG solutions across the lifecycle of public and private companies. The Market Services segment consists of the Equity Derivative Trading and Clearing, Cash Equity Trading, FICC, and Trade Management Services businesses. It operates multiple exchanges and other marketplace facilities across several asset classes, including derivatives, commodities, cash equity, debt, structured products and ETPs. The company was founded by Gordon S. Macklin in 1971 and is headquartered in New York, NY.

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