Euronext Group and Nexi S.p.A have signed the sale and purchase of the technology businesses currently powering MTS, Euronext鈥檚 fixed-income trading platform, and Euronext Securities Milan.
The transaction worth 鈧�57 million is a new step in Euronext鈥檚 strategy to leverage the company鈥檚 integrated value chain, as it aims to enhance Euronext鈥檚 technology competencies and capabilities in trading and post-trade.
The acquisition is expected to strengthen the core operations of MTS and Euronext Securities Milan.
With the sale, Euronext internalises the core trading platform of MTS and its largest IT contract. Nexi, a paytech firm 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.
Renato Martini, digital banking and corporate solutions director at Nexi, says: 鈥淭his 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."
St茅phane Boujnah, CEO and chairman of the managing board at Euronext, adds: 鈥淭he planned acquisition of the technology assets driving MTS and Euronext Securities Milan is a key milestone in the Borsa Italiana Group integration process.
鈥淎t Euronext, owning the intellectual property of our critical operations is at the centre of our strategy, to secure the robustness of our operations and to enable further development and product innovation.鈥�
The transaction is expected to close in the second half of 2022.
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one securities finance news source this
year, make sure it is your free subscription to Securities 麻豆影视传媒 Times
Image: nespix/stock.adobe.com 