Milan, June 14, 2022 – Nexi S.p.A. (“Nexi”) and Euronext Group (“Euronext”) announce the signing of the sale and purchase of the technology businesses currently powering MTS, Euronext’s leading fixed-income trading platform, and Euronext Securities Milan (formerly called Monte Titoli) by Nexi to Euronext (the “Transaction”).
The purchase price will be paid in cash and amounts to c. €57m, subject to customary closing adjustments.
Nexi, the European PayTech leader, has been a partner of choice of MTS and Euronext Securities Milan for more than 30 years, powering the technology driving MTS and Euronext Securities Milan. 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. Following the Transaction, Nexi will continue to provide technology services to Euronext under transitional arrangements and other services under related commercial agreements.
This Transaction is a new step in Euronext’s strategy to leverage its integrated value chain as it further enhances Euronext’s technology competencies and capabilities in trading and post trade. The Transaction will also strengthen the core operations of MTS and Euronext Securities Milan, which joined Euronext in April 2021. With this Transaction, Euronext internalises the core trading platform of MTS and its largest IT contract. It enables Euronext to become more agile and efficient by fully owning the technology powering MTS and Euronext Securities Milan.
The Transaction, which will be realized through Euronext’s subsidiaries MTS and Euronext Securities Milan, is expected to close in the second half of 2022 and is subject to the customary approvals from the competent authorities and completion of the union consultation procedure.
On this transaction Nexi was assisted by KPMG and Chiomenti as financial and legal advisors.
“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", said Renato Martini, Digital Banking & Corporate Solutions Director at Nexi.
Stéphane Boujnah, CEO and Chairman of the Managing Board at Euronext said: “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 center of our strategy, to secure the robustness of our operations and to enable further development and product innovation. We look forward to welcoming the new teams to the Euronext Group.”