Nasdaq has announced its acquisition of Adenza, a financial software firm, from private-equity firm Thoma Bravo for $10.5bn, with a cash and stock deal. Nasdaq’s CEO, Adena Friedman, said that the acquisition would help the exchange operator grow as it tries to diversify its offering. The company plans to issue about 14.5% of its outstanding shares to the owners of Adenza, which is expected to bring in annual revenue of approximately $590m by 2023. To fund the cash part of the transaction, Nasdaq has obtained bridge financing, and it intends to issue roughly $5.9bn of debt between the deal’s signing and closing, expected in six to nine months. Nasdaq’s shares fell 1.4% in pre-market trading on the back of the news.
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.