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.
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.
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.