– Itiviti has grown drastically throughout Nordic Capital’s ownership, generating a global drive in cash markets technological innovation and infrastructure
– By signing up for forces with international Fintech chief Broadridge (NYSE: BR), Itiviti is taking the next move in improving its funds markets abilities and extending its international get to
STOCKHOLM, March 29, 2021 /PRNewswire/ — Nordic Money has agreed to offer Itiviti, a major supplier of buying and selling technological know-how and solutions to fiscal institutions globally, to Broadridge Monetary Options a international Fintech chief, in a transaction valued at EUR 2.143 billion. Because Nordic Cash took Itiviti personal in 2012, it has designed considerable engineering investments and completely transformed the Organization to create just one of the world’s leading providers of buying and selling technology for the worldwide money marketplaces industry.
Since assuming vast majority possession of the Business, Nordic Money has supported Itiviti by drawing on its expertise and 20-year track file of making and investing in reducing-edge technology corporations across Europe. In the course of Nordic Capital’s possession, Itiviti has created from currently being a professional financial software program service provider to getting to be a world leader presenting a contemporary cross-asset cash markets platform. This transformation was accomplished via several years of sizeable technological innovation investments, a meticulously crafted technologies acquisitions technique and focused target on location up R&D abilities and an organisational framework to satisfy foreseeable future money market place wants. Nowadays, Itiviti is quick-increasing and has a top world-wide posture with additional than 2,000 customers earth-huge, over EUR 200 mn in revenues and c. 1,000 workers.
“Itiviti’s chopping-edge trading technological innovation permits prospects world-broad to enhance workflow in the capital marketplaces. The Business has expert a journey of progress and transformation all through Nordic Capital’s possession. With the blend of Itiviti and Ullink, Nordic Money developed a world foremost technologies and infrastructure provider that is ideally positioned to take advantage of increased complexity and laws in the fiscal products and services market. We are immensely happy of the Itiviti crew and would like to thank them for their dedication and exceptional operate. It is really now time for the Business to choose the future step forward jointly with Broadridge, capitalising on future-generation technologies platform and attaining even additional expansion and enlargement”, reported Fredrik Näslund, Lover, Nordic Cash Advisors.
“Underneath Nordic Capital’s ownership, Itiviti has developed to come to be a world wide power in the capital markets industry. As proprietors, they have been instrumental in supporting us in the course of this development in the spirit of a correct partnership and entirely targeted on seizing the alternatives obtainable to Itiviti. With Broadridge as the new owner, we will be able to choose the next all-natural stage in our improvement and with each other provide even superior systems to meet up with our clients’ potential requires”, claimed Rob Mackay, CEO Itiviti.
“The acquisition of Itiviti enhances Broadridge’s placement as a international Fintech chief, expands our Cash Marketplaces franchise and drives additional international scale by expanding our footprint in APAC and EMEA and our ability to provide world customers,” said Tim Gokey, Broadridge’s Chief Government Officer. “Itiviti is remarkably complementary to Broadridge’s business-main submit-trade product suite and other cash markets abilities and this combination is envisioned to drive considerable value to purchasers and shareholders”.
Technologies and Payments is a single of Nordic Capital’s concentrate sectors in which it has in depth practical experience, a strong and energetic sector network, and a devoted team in Nordic Capital Advisors throughout Northern Europe. As a single of Europe’s foremost tech investors, Nordic Funds has invested EUR 3.8 billion in 19 tech and payment firms due to the fact 2004. It has accomplished repeatable achievement in this sector and designed flourishing businesses as evidenced by the functionality of investments this kind of as Bambora, Trustly, Cint, Siteimprove and Signicat. The sale of Itiviti arrives just a few months following Nordic Money declared the prosperous listings of portfolio providers Nordnet AB (publ), a pan-Nordic savings system and Cint Team AB (publ), a world application chief in digital insights gathering, on Nasdaq Stockholm.
The transaction is subject matter to customary closing circumstances and regulatory approval and is expected to near in the next quarter of 2021.
Credit history Suisse and Morgan Stanley acted as economical advisors, Dechert as legal advisor, PwC as finance advisor and Oliver Wyman as commercial advisor to Nordic Capital.
Media make contact with:
Katarina Janerud, Communications Manager
Nordic Funds Advisors
Tel: +46 8 440 50 50
e-mail: [email protected]
About Nordic Capital
Nordic Money is a leading private equity investor with a resolute dedication to developing stronger, sustainable companies via operational advancement and transformative advancement. Nordic Money focuses on picked regions and sectors where by it has deep knowledge and a long background. Concentration sectors are Healthcare, Technology & Payments, Fiscal Services, and selectively, Industrial & Enterprise Expert services. Essential regions are Europe and globally for Healthcare and Know-how & Payments investments. Because inception in 1989, Nordic Cash has invested additional than EUR 17 billion in close to 120 investments. The most the latest fund is Nordic Funds Fund X with EUR 6.1 billion in fully commited capital, principally provided by international institutional investors these types of as pension resources. Nordic Cash Advisors have nearby workplaces in Sweden, Denmark, Finland, Norway, Germany, the United kingdom and the US. For even further details about Nordic Money, make sure you pay a visit to nordiccapital.com
Itiviti is a foremost international funds marketplaces technology provider provider offering highly scalable, SaaS-dependent methods that provide unparalleled cost savings for financial establishments by enabling them to consolidate their investing infrastructure. The firm’s modular OEMS (get execution administration systems) assist multi-asset course, global buying and selling across the two principal and agency trading functions. Itiviti’s Hook up and Trade answer portfolios offer you comprehensive resources to assistance equally connectivity, reflective of the developing value of Take care of as the financial markets’ universal language, and adaptivity to transforming current market dynamics and regulatory needs. Headquartered in Stockholm, Sweden, with offices in 16 nations around the world, the business serves above 2,000 consumers across 50 nations, which include numerous top rated-tier financial institutions, brokers, buying and selling firms and asset administrators. For far more data make sure you go to itiviti.com
Broadridge Fiscal Remedies (NYSE: BR), a world-wide Fintech leader with over $4.5 billion in revenues, delivers the essential infrastructure that powers investing, corporate governance and communications to empower far better monetary life. They deliver technologies-pushed solutions to banks, broker-dealers, asset and wealth supervisors and public businesses. Broadridge’s infrastructure serves as a world-wide communications hub enabling company governance by linking hundreds of community organizations and mutual resources to tens of thousands and thousands of particular person and institutional investors all-around the environment. In addition, Broadridge’s technological know-how and functions platforms underpin the every day investing of on typical far more than U.S. $10 trillion of equities, fixed cash flow and other securities globally. A certified Great Place to Work®, Broadridge is a component of the S&P 500® Index, utilizing more than 12,000 associates in 17 countries. For additional info about Broadridge, remember to take a look at broadridge.com.
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