Euronext Group today announced it has signed an acquisition agreement of Nexi S.p.A’s technology businesses currently powering MTS, Euronext’s fixed-income trading platform, and Euronext Securities Milan (formerly called Monte Titoli).
According to the official press release, the deal is for €57 million, to be paid in cash and is expected to close in the second half of 2022. The acquisition will be realized through Euronext’s subsidiaries MTS and Euronext Securities Milan.
The move is part of Euronext’s strategy to leverage its integrated value chain as it further boosts its technology capabilities in trading and post trade.
The acquisition will also strengthen the core operations of MTS and Euronext Securities Milan, which joined Euronext in April 2021. With this deal, Euronext internalises the core trading platform of MTS and its largest IT contract. It will allow the company to become more agile and efficient with the full ownership of the technology powering MTS and Euronext Securities Milan.
For over 30 years Nexi has been a partner of MTS and Euronext Securities Milan, powering their technology. Following the completion of the deal, Nexi will continue to provide technology services to Euronext under transitional arrangements and other services under related commercial agreements.
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, added:
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.