Euronext announces the acquisition of the technology businesses from Nexi’s capital markets activities
Amsterdam, Brussels, Dublin, Lisbon, London, Milan, Oslo and Paris – 14 June 2022 Euronext Group (“Euronext”) and Nexi S.p.A. (“Nexi”) announce the signing of the sale and purchase of the technology businesses currently powering MTS, Euronext’s leading fixed-income trading platform, and Euronext Securities Milan (formerly called Monte Titoli) by Nexi to Euronext (the “Transaction”).
The purchase price will be paid in cash and amounts to c. €57m, subject to customary closing adjustments.
This Transaction is a new step in Euronext’s strategy to leverage its integrated value chain as it further enhances Euronext’s technology competencies and capabilities in trading and post trade. The Transaction will also strengthen the core operations of MTS and Euronext Securities Milan, which joined Euronext in April 2021. With this Transaction, Euronext internalises the core trading platform of MTS and its largest IT contract. It enables Euronext to become more agile and efficient by fully owning the technology powering MTS and Euronext Securities Milan.
Nexi, the leading PayTech in Europe, has been a partner of choice of MTS and Euronext Securities Milan for more than 30 years, powering their technology. Following the Transaction, Nexi will continue to provide technology services to Euronext under transitional arrangements and other services under related commercial agreements.
The Transaction, which will be realized through Euronext’s subsidiaries MTS and Euronext Securities Milan, is expected to close in the second half of 2022 and is subject to the customary approvals from the competent authorities and completion of the union consultation procedure.
Renato Martini, Digital Banking & Corporate Solutions Director at Nexi, said: “This sale, consistent with our strategy following the mergers with SIA and Nets, will allow us to focus further on our core business, digital payments, accelerating our growth in Europe and focusing on the realisation of synergies."
Stéphane Boujnah, CEO and Chairman of the Managing Board at Euronext, said: “The planned acquisition of the technology assets driving MTS and Euronext Securities Milan is a key milestone in the Borsa Italiana Group integration process. At Euronext, owning the intellectual property of our critical operations is at the center of our strategy, to secure the robustness of our operations and to enable further development and product innovation. We look forward to welcoming the new teams to the Euronext Group.”
Euronext is the leading pan-European market infrastructure, connecting European economies to global capital markets, to accelerate innovation and sustainable growth. It operates regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal. With close to 2,000 listed issuers and around €6.6 trillion in market capitalisation as of end March 2022, it has an unmatched blue chip franchise and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets, one of Europe’s leading electronic fixed income trading markets and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities, FX, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. The Group provides a multi-asset clearing house through Euronext Clearing, and custody and settlement services through Euronext Securities central securities depositories in Denmark, Italy, Norway and Portugal. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. In addition to its main regulated market, it also operates a number of junior markets, simplifying access to listing for SMEs.
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