Nasdaq has announced that it intends to purchase the financial risk software company Adenza for $10.5 billion in what would be the largest deal by Nasdaq in history.

Adenza, which is owned currently by the private equity firm Thoma Bravo, provides its software to large banks in order to better manage post-crisis regulations. The cash and stock acquisition is in hopes that the capabilities Adenza will provide will allow Nasdaq to shift focus to more stable revenue streams such as data risk management, regulatory technology, and compliance. Much of what Adenza has to offer will be included within Nasdaq’s solutions.

Adena Friedman, Nasdaq chief executive stated that “This is an exceptional opportunity to acquire a leading software company that enhances Nasdaq’s position at the heart of the global financial system.”

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‍Source: Financial Times