Nasdaq Announces $10.5 Billion Acquisition of Financial Software Firm Adenza

Nasdaq plans to acquire Adenza from PE firm Thoma Bravo in a cash-and-stock deal valued at $10.5 billion.
Adenza provides risk management and regulatory tech for banks and brokerages.
The acquisition will extend Nasdaq's serviceable addressable market to $34 billion.
Thoma Bravo will receive a 14.9% stake in Nasdaq and a seat on its board as part of the deal.
With Adenza, Nasdaq will be better positioned to provide comprehensive support to financial institutions across regulatory technology, compliance, and risk management.