Nasdaq to buy financial software company Adenza in $10.5 billion cash-and-stock deal
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.
