Nasdaq Acquires Swedish Fintech Cinnober in $190 Million Deal

The world's second largest stock exchange, Nasdaq, has taken its strategic technology infrastructure to new heights by procuring a partnership deal with Cinnober.

Cinnober has spent two decades polishing its brand as a luminary multi-asset class solutions technology service.

Moving forward, Nasdaq plans to fuse its approach with Cinnober's fintech knowledge pursuant to an earned reputation for securing capital deployment priorities, including shareholder capital return and leveraging objectives.

Nasdaq's CEO Adena Friedman brought attention to the rapidly evolving global markets, which are creating new industries and therefore demand for transaction technology.

"[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.

Nils-Robert Persson, co-founder and chairman of the board of directors at Cinnober, reiterated the long-term benefits of the acquisition, saying company development provides access to larger markets and additional segmented audiences.

"I really believe in the strategic logic of combining Cinnober and Nasdaq's Market Technology business also as it reinforces the strong technology foundation in Sweden. As the largest shareholder of Cinnober, I am supportive of the offer and intend to accept the offer."

Accompanying Nasdaq's cash offer this morning, it also offered to take responsibility of all outstanding shares and warrants at 75 Swedish krona per share and 85 SEK per warrant.

Shareholders and warrant holders were advised by the entire Cinnober board of directors to accept the offer.

It is believed Nasdaq will fund the transaction with either cash on hand or available liquid assets from existing credit facilities.