Nordic Capital has agreed to sell Itiviti, a provider of trading technology and services to financial institutions, to Broadridge Financial Solutions, in a deal valued at EUR2.143 billion
Credit Suisse and Morgan Stanley acted as financial advisors, Dechert as legal advisor, PwC as finance advisor and Oliver Wyman as commercial advisor to Nordic Capital.
The Nordic private equity group took Itiviti private in 2012, and since then the company has invested in technology and aimed to fully transform the company to create one of the world’s leading providers of trading technology for the global capital markets industry, according to Nordic Capital.
During Nordic Capital’s ownership, Itiviti developed from being a specialist financial software provider to becoming a global player offering a modern cross-asset capital markets platform; by investing in technology, following a technology acquisitions strategy and a focus on expanding R&D, as well as putting in place an organisational framework with the intention to meet future capital market needs.
Soure: Private Equity Wire
