Euronext Group and Nexi S.p.A have signed the sale and purchase of the technology businesses currently powering MTS, Euronext’s fixed-income trading platform, and Euronext Securities Milan.
The transaction worth €57 million is a new step in Euronext’s strategy to leverage the company’s integrated value chain, as it aims to enhance Euronext’s technology competencies and capabilities in trading and post-trade.
The acquisition is expected to strengthen the core operations of MTS and Euronext Securities Milan.
With the sale, Euronext internalises the core trading platform of MTS and its largest IT contract. Nexi, a paytech firm in Europe, has been a partner of choice of MTS and Euronext Securities Milan for more than 30 years, powering their technology.
Following the transaction, Nexi will continue to provide technology services to Euronext under transitional arrangements and other services under related commercial agreements.
Renato Martini, digital banking and corporate solutions director at Nexi, says: “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, adds: “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 centre of our strategy, to secure the robustness of our operations and to enable further development and product innovation.”
The transaction is expected to close in the second half of 2022.