Nasdaq announced this week the closing of its acquisition of Adenza, a software portfolio company of private equity buy-out firm Thoma Bravo, for $10.5 billion. The deal represents Nasdaq’s largest acquisition to date. Adenza’s risk management and regulatory software will help Nasdaq expand its services beyond traditional exchange operations. Nasdaq’s stock fell over 10% on the news as investors expressed concern over the acquisition’s high price, valuing Adenza at nearly 18 times its expected 2023 revenue.
Nasdaq Completes $10.5 Billion Adenza Deal in Fintech Bet