Euronext is set to acquire MTS, a tech business supporting Euronext’s fixed income platform, for a deal worth €57m.
According to Nexi – the company Euronext is acquiring MTS from – the purchase price will be paid in cash and is subject to customary closing adjustments.
Nexi claims 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.
Following the completion of the acquisition, Nexi will retain other parts of the unit and continue to serve Euronext in specific compliance, post-trade and surveillance functions. The transaction is expected to be concluded in the second half of this year.
Euronext CEO Stéphane Boujnah said that the deal represents a key milestone in the Borsa Italiana Group integration process.
He added, “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.”
Nexi digital banking and corporate solutions director Renato Martini added, “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.”
Switzerland-based Foxstone, which offers a real estate crowdfunding platform, has reportedly raised CHF 10m ($10m) in its Series A.
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