Nasdaq to acquire Adenza from Thoma Bravo for $10.5 Billion

Nasdaq has confirmed its agreement to buy Adenza, a provider of risk management and regulatory software, from Thoma Bravo, a software investment firm. The purchase price stands at $10.5 billion.

Adenza’s acquisition is a strategic move for Nasdaq, adding regulatory technology, compliance, and risk management to its service portfolio. This addition could strengthen Nasdaq’s ability to assist financial institutions and further develop a platform for multiple asset classes that encompasses the full trade lifecycle.

For 2023, Adenza projects a revenue of around $590 million. This projection comes with an anticipated organic growth rate of 15% and an annual recurring revenue growth rate of 18%. Notably, Adenza maintains a substantial client base, with gross retention at 98% and net retention at 115%.

As part of the agreement, Thoma Bravo’s managing partner, Holden Spaht, will join the Nasdaq’s board of directors, increasing its size to twelve members.

[Image courtesy: Adenza]

Just in

Microsoft joins OpenAI’s board with Sam Altman officially back as CEO — The Verge

Sam Altman is officially OpenAI’s CEO again, writes Alex Heath. 

AWS, Salesforce expand strategic partnership

Amazon Web Services (AWS) and Salesforce announced an expansion of their global strategic partnership, deepening product integrations across data and artificial intelligence (AI), and for the first time offering select Salesforce products on the AWS Marketplace.

Gulf Air exposed to data breach, ‘vital operations not affected’ — U.S. News

Gulf Air said its data was breached on Friday but its operations and vital systems were not affected, Bahrain's news agency BNA reported on Saturday, according to the report. 

Sam Altman to return as CEO of OpenAI — The Verge

Sam Altman will return as CEO of OpenAI, overcoming...