Nexi sells capital markets tech business to Euronext for €57m

Italian paytech heavyweight Nexi is selling its technology businesses that are currently powering MTS, Euronext’s fixed-income trading platform, and Euronext Securities Milan (formerly called Monte Titoli) to Euronext.

Stéphane Boujnah, Euronext: “Owning the intellectual property of our critical operations is at the centre of our strategy”

Euronext has agreed on the cash price of approximately €57 million, subject to customary closing adjustments. The deal is expected to close in H2 2022.

Nexi has been providing technology to MTS and Euronext Securities Milan for more than 30 years.

It explains that “the disposal of the capital markets activities resulted from a strategic review of Nexi’s perimeter following the completion of the mergers with Nets and SIA and is in line with its strategy to focus on the core reference markets”.

Euronext says this purchase is “a new step in its strategy to leverage its integrated value chain”, enhancing the company’s technology competencies and capabilities in trading and post trade. It will also enable Euronext “to become more agile and efficient” by fully owning the relevant technology.

Stéphane Boujnah, CEO and chairman of the managing board at Euronext, describes the acquisition as “a key milestone in the Borsa Italiana Group integration process”.

(Euronext completed the €4.4 billion acquisition of the Borsa Italiana Group in April 2021, purchased from the London Stock Exchange Group.)

Boujnah adds: “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.”