Nasdaq is buying Adenza, a company that makes software used on Wall Street, for $10.5 billion in cash and stock.
The acquisition from owner Thoma Bravo, an investment company, includes $5.75 billion in cash and 85.6 million shares of Nasdaq common stock.
Nasdaq CEO Adena Friedman has been pushing the company further into tech, expanding beyond its roll as a marketplace for trading that is reliant largely on trading volumes to thrive.
“From fast-evolving global regulations to rapidly increasing pressures to modernize infrastructure, our clients are seeking trusted partners equipped to support them in this challenging environment,” Friedman said in a written statement. “Nasdaq aspires to be that partner every day, and with Adenza we can offer an even broader range of mission-critical solutions that enhance the liquidity, transparency, and integrity of the world’s financial system.”…