SA国际传媒

Yes, you read that headline correctly. While most of us were out soaking up some summer weekend vibes, this megadeal was going down.

In one of the biggest acquisitions of the year so far, will reportedly acquire privately held software company for $10 billion in a mix of cash and shares according to .

Adenza develops risk-management and related regulatory software for the financial services market, and is therefore a logical fit for Nasdaq. The company will be acquired by Nasdaq from , a software investment firm.

Formed in 2021 from the Thoma Bravo acquisitions of in 2020 and in 2022, Adenza is expected to hit about $590 million in annual 2023 revenue, according to Nasdaq.

What鈥檚 Nasdaq up to?

The Adenza acquisition is the biggest for Nasdaq as it expands its fintech services. Nasdaq says with the acquisition it will be better positioned to provide 鈥渃omprehensive support to financial institutions鈥� over regulatory technology, compliance and risk management.

鈥淭his is an exceptional opportunity to acquire a leading software company that enhances Nasdaq鈥檚 position at the heart of the global financial system,鈥� said , Nasdaq鈥檚 CEO.

,聽 which operates three stock exchanges in the U.S. and seven in Europe, has made eight investments in the past, Its most recent investment was on Aug. 2, 2021, to Boston-based 鈥� corporate round. Level ATS is an independently operated U.S. Equity Alternative Trading System located in Boston.

, a managing partner at Thoma Bravo, is expected to be appointed to Nasdaq鈥檚 board of directors, which will be expanded to 12 members.

The deal falls a few billion short of 鈥� $12.5 billion acquisition announced earlier this year and will reportedly be completed over the next nine months.

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