Nasdaq to buy Swedish trading solution provider Cinnober: Reuters
Summary
Exchange operator Nasdaq (NDAQ.O) said on Friday it planned to buy Swedish financial technology provider Cinnober (CINN.ST) in a deal valuing the business at around 1.7 billion crowns ($190 million).Cinnober’s main shareholder and chairman, Nils-Robert Persson, said he intended to accept the offer, which represents a premium of roughly 22 percent to the share’s closing price of 61.50 crowns on Thursday.Nasdaq said it expected the acquisition to deliver significant synergies and meet the company’s 10 percent return on invested capital objective over 3-5 years, and to be accretive to non-GAAP earnings per share within 12 months of closing.Buyouts delivers exclusive news and analysis about private equity deals, fundraising, top-quartile managers and more.VC Journal provides exclusive news and analysis about venture capital deals, fundraising, top-quartile investors and more.
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