News wires buzzed this week when the National Association of Securities Dealers Automated Quotations (Nasdaq) announced its pending purchase of Swedish crypto-friendly stock exchange technology company Cinnober. Nasdaq made "an USD 190m all cash recommended public offer" to the company, which it terms a major "financial technology provider to brokers, exchanges and clearing houses worldwide." It could also be a significant first step for Nasdaq into the world of crypto.
Nasdaq to Acquire Crypto-Friendly Swedish Stock Exchange Software Developer Cinnober
Adena Friedman, President and CEO, Nasdaq explained, "The combined intellectual capital, technology competence and capabilities of Cinnober and our Market Technology business will expand the breadth and depth of our fastest growing division at Nasdaq."
From Stockholm, Sweden this week came a public announcement Nasdaq had made a $190 million offer to gobble up Swedish crypto-friendly stock exchange software provider Cinnober. The acquisition "would strengthen its position as one of the world's leading market infrastructure technology providers," Nasdaq claimed.
Statement from Cinnober Board.
"Not only have the global capital markets continued to evolve rapidly," Ms. Friedman, 49, continued, "new marketplaces in various industries are demanding market technology infrastructure that enables rapid growth and scale as well as access to tools to promote market integrity. This acquisition will enhance our ability to serve market infrastructure operators worldwide, and will accelerate our ability to expand into new growth segments."