Nasdaq Completes $10.5 Billion Adenza Deal in Fintech Bet (1)

Nasdaq Inc. completed its biggest ever acquisition, adding software provider Adenza to help transform the trading and markets firm into a full-fledged financial-services company.

The exchange, which agreed to buy Adenza from Thoma Bravo for $10.5 billion in June, will fold Adenza’s management and sales team into a newly formed financial-technology division, the company said in a statement Wednesday. That business now sits alongside the market-services and the capital access platforms divisions, as part of an overhauled structure following the acquisition.

CEO Adena Friedman

Photographer: Jeenah Moon/Bloomberg

“We are going to where the puck is going, and not where it is today,” Chief Executive Officer ...