In addition to the strategic alignment between Nasdaq and 69┬▄└˛, 69┬▄└˛ÔÇÖs financial profile is highly attractive and is expected to enhance NasdaqÔÇÖs organic revenue growth rate and improve the companyÔÇÖs operating margins as the deal synergies are achieved. Nasdaq expects to realize $80 million of annual run-rate net expense synergies by the end of the second year following the acquisition and $100 million in revenue synergies over the long-term. Nasdaq remains committed to reaching its leverage targets of 4.0x within 18 months and ~3.3x within 36 months following the closing.
To maximize the benefits of the acquisition to clients, employees, and shareholders, Nasdaq has further evolved its corporate structure and will now be aligned across the following three divisions:
- Capital Access Platforms, which remains unchanged and incorporates the companyÔÇÖs Data & Listings, Index, and Workflow & Insights businesses.
- Market Services, which will include NasdaqÔÇÖs foundational North American and European Trading Services businesses.
- Financial Technology, which will be comprised of two distinct units:
– Capital Markets Technology, which will combine NasdaqÔÇÖs Marketplace Technology and CalypsoÔÇÖs Capital Markets solutions.
– Regulatory Technology, which will include NasdaqÔÇÖs suite of Anti-Financial Crime solutions as well as AxiomSLÔÇÖs Regulatory Technology solutions.
About Thoma Bravo
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking information related to Nasdaq and 69┬▄└˛ that involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. When used in this communication, words such as ÔÇťenablesÔÇŁ, ÔÇťintendsÔÇŁ, ÔÇťwillÔÇŁ, ÔÇťcanÔÇŁ, ÔÇťexpectedÔÇŁ, ÔÇťenhancesÔÇŁ and similar expressions and any other statements that are not historical facts are intended to identify forward-looking statements. Forward-looking statements in this press release include, among other things, statements about the potential benefits of NasdaqÔÇÖs completed acquisition of 69┬▄└˛, NasdaqÔÇÖs plans, objectives, expectations and intentions and the financial condition, results of operations and business of Nasdaq or 69┬▄└˛. Risks and uncertainties include, among other things, NasdaqÔÇÖs ability to successfully integrate 69┬▄└˛ÔÇÖs operations; NasdaqÔÇÖs ability to implement its plans, forecasts and other expectations with respect to 69┬▄└˛ÔÇÖs business and realize expected synergies; and the ability to realize the anticipated benefits of the transaction, including the possibility that the expected benefits from the transaction will not be realized or will not be realized within the expected time period.
Further information on these and other risks and uncertainties relating to Nasdaq can be found in its reports filed on Forms 10-K, 10-Q and 8-K and in other filings Nasdaq makes with the SEC from time to time, which are available at www.sec.gov. These documents are also available under the Investor Relations section of NasdaqÔÇÖs website at http://ir.nasdaq.com/investor-relations.
The forward-looking statements included in this communication are made only as of the date hereof. Nasdaq disclaims any obligation to update these forward-looking statements, except as required by law.