TRADING SYSTEMS

Nordic Capital will Sell Itiviti, a Major Trading Technology and Service Provider, to Broadridge, an International Fintech Pioneer

Nordic Capital, Itiviti | April 05, 2021

Nordic Capital has agreed to sell Itiviti, a leading provider of trading technology and services to financial institutions around the world, to Broadridge Financial Solutions, an international Fintech giant, for EUR 2.143 billion. After taking Itiviti private in 2012, Nordic Capital has made significant technology investments and fully transformed the company to become one of the world's largest suppliers of trading technology to the global capital markets industry.

Nordic Capital has funded Itiviti since acquiring majority control of the firm, drawing on its expertise and twenty-year track record of developing and investing in cutting-edge technology businesses across Europe. Itiviti has grown from a specialized financial software supplier to a global pioneer delivering a modern cross-asset capital markets network under Nordic Capital's control.

Nordic Capital has financed Itiviti since purchasing a controlling stake in the company, building on its experience and a twenty-year track record of developing and investing in cutting-edge technology companies in Europe. Itiviti has developed from a specialist financial software provider to a major leader in providing a modern cross-asset capital markets network under the control of Nordic Capital.

Technology and Payments is one of Nordic Capital's priority markets, with vast expertise, a strong and active business network, and a committed team spanning Northern Europe within Nordic Capital Advisors. Nordic Capital, one of Europe's largest technology investors, has invested EUR 3.8 billion in 19 software and payment firms since 2004. It has achieved repeatable success in this sector and created flourishing enterprises, as evidenced by the results of investments like Bambora, Trustly, Cint, Siteimprove, and Signicat. Itiviti's sale comes only a few months after Nordic Capital revealed the popular Nasdaq Stockholm listings of portfolio companies Nordnet AB (publ), a pan-Nordic savings platform, and Cint Group AB (publ), a global tech pioneer in digital insights gathering.

The deal is scheduled to close in the second quarter of 2021, subject to normal closing conditions and regulatory approval.

About Nordic Capital

Nordic Capital is a leading private equity investor dedicated to building bigger, more competitive companies through organizational changes and transformative growth. Nordic Capital focuses on particular markets and businesses where it has broad expertise and a strong track record. Healthcare, Technology & Payments, Financial Services, and, to a lesser extent, Industrial & Business Services are priority sectors. Healthcare and Infrastructure & Payments investments are concentrated in Europe and internationally. Nordic Capital has invested more than EUR 17 billion in nearly 120 acquisitions since its launch in 1989. Nordic Capital Fund X is the most recent fund, with EUR 6.1 billion in committed capital, mostly funded by foreign institutional investors such as pension funds. Nordic Capital Advisors has offices in Sweden, Denmark, Finland, Norway, Germany, the United Kingdom, and the United States.

About Itiviti
Itiviti is a leading global capital markets technology service provider that provides highly flexible, SaaS-based solutions that enable financial institutions to simplify their trading infrastructure, resulting in significant cost savings. The modular OEMS (order execution management systems) used by the company support multi-asset class, global trading in all principal and agency trading operations. Itiviti's Connect and Trade solution portfolios have robust solutions to help both connectivities, which represents the growing importance of FIX as the universal language of the financial markets, and the ability to adapt to evolving business conditions and regulatory demands. The company,  is headquartered in Stockholm, Sweden, and has offices in 16 countries, serves over 2,000 customers in 50 countries, including many top-tier banks, brokers, brokerage companies, and fund managers.

About Broadridge
Broadridge Financial Solutions (NYSE: BR), a global Fintech pioneer with over $4.5 billion in revenue, delivers the vital infrastructure that drives trading, corporate governance, and communications, enabling people to live healthier financial lives. They have technology-enabled solutions for banks, broker-dealers, asset and wealth managers, and publicly listed companies. Broadridge's infrastructure acts as a global communications hub, facilitating corporate governance by connecting thousands of public companies and mutual funds to tens of millions of individual and institutional investors worldwide. Furthermore, Broadridge's technology and operations platforms support the daily trading of more than $10 trillion in equities, fixed income, and other securities around the globe.

Spotlight

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Spotlight

After co-founding the cryptocurrency Ethereum, Anthony Di Iorio founded Decentral, a blockchain hub for decentralized projects. Di Iorio talked to MarketWatch about how a blockchain-based digital wallet could enable anyone to 'be your own bank. More interestingly, however, cryptocurrency ATMs also offer an innovative solution to solve one of the world’s biggest problems - banking barriers.

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INVESTMENTS

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FINANCIAL MANAGEMENT

CANACCORD GENUITY GROUP INC. ANNOUNCES ACQUISITION OF UK ADVISORY BUSINESS RESULTS INTERNATIONAL GROUP LLP

CANACCORD GENUITY GROUP INC. and RESULTS INTERNATIONAL GROUP LLP | August 04, 2022

Canaccord Genuity Group Inc. is pleased to announce that through its UK & Europe capital markets business, Canaccord Genuity Limited, it has entered into an asset purchase agreement to acquire the business of Results International Group LLP ("Results"). Results is an independent advisory firm headquartered in London, UK, focused in the technology and healthcare sectors which provides M&A and corporate finance services to entrepreneurs, corporates, private equity firms and investors. Results has executed more than 60 strategic advisory transactions in the past three years. The transaction is expected to close in the current fiscal quarter, subject to customary closing conditions. This transaction complements recent investments by the Company to expand its global Advisory business with the acquisitions of Petsky Prunier (2019) and Sawaya Partners (2021) in the United States and expands its European domain expertise in the Healthcare and Technology sectors. "Since our initial investment to expand our advisory practice in 2019, we have meaningfully increased our relevance as a leading independent midmarket advisory firm in North America and Europe, and this has contributed to our stronger profitability, Our acquisition of Results supports our strategy of increasing contributions from our advisory segment and provides robust European expertise in two of our core focus sectors, healthcare and technology." -Dan Daviau, President & CEO of Canaccord Genuity Group Inc. With deeply established strength in the Technology and Healthcare sectors, Results brings a strong complement to our European advisory business, We are delighted to welcome the Results team and we expect this combination will meaningfully strengthen our respective businesses to create a combined practice that is substantially greater than the sum of its parts,said Nick Russell, Chief Executive Officer of Canaccord Genuity Limited. To ensure a seamless transition for Results' clients and employees, Managing Partner Julie Langley will become Head of Technology and Healthcare Advisory for Canaccord Genuity UK & Europe. All existing employees of Results are expected to continue with Canaccord Genuity's UK & Europe capital markets business. Julie Langley, Managing Partner of Results, added: For more than three decades the Results team has been achieving outstanding results for our clients through a combination of deep sector expertise, a relentless focus on client service and an agile and collaborative approach. We are pleased to have found a flexible and entrepreneurial partner in Canaccord Genuity, where both the strategic and cultural fit are so strong. We look forward to providing enhanced geographic reach, domain expertise and service offering for our combined clients. Hines Associates is acting as financial adviser and Squire Patton Boggs is acting as legal adviser to Results in connection with the transaction. Shearman and Sterling are providing legal advice to Canaccord Genuity. ABOUT CANACCORD GENUITY GROUP INC. Through its principal subsidiaries, Canaccord Genuity Group Inc. (the "Company") is a leading independent, full-service financial services firm, with operations in two principal segments of the securities industry: wealth management and capital markets. Since its establishment in 1950, the Company has been driven by an unwavering commitment to building lasting client relationships. We achieve this by generating value for our individual, institutional and corporate clients through comprehensive investment solutions, brokerage services and investment banking services. The Company has wealth management offices located in Canada, the UK, Guernsey, Jersey, the Isle of Man and Australia. 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