Nasdaq Plans To Acquire Software Maker Adenza For $10.5 Billion

Adena Friedman, the CEO of Nasdaq, is taking on a major challenge as Nasdaq plans to acquire software maker Adenza for $10.5 billion, the largest deal in the company's history. This acquisition reflects Friedman's vision of transforming Nasdaq into a financial-technology company and diversifying its offerings beyond being solely a stock exchange. Friedman is committed to proving the long-term value of acquiring Adenza and strengthening Nasdaq's standing as a financial-technology firm. Despite the initial market response, she maintains that the acquisition was warranted and anticipates Nasdaq's traditional trading business to represent less than 25% of its future net revenues. Friedman joined Nasdaq in 1993 and was instrumental in Nasdaq's expansion as a tech company listing destination. After a brief departure, she returned in 2014 and led a strategic shift, transforming Nasdaq into a technology, data, and analytics provider for the financial industry.