Euronext brings MTS tech in-house with Nexi acquisition

Dan Barnes

Euronext Group has bought the Nexi technology businesses currently powering MTS, Euronext’s leading fixed-income trading platform, and Euronext Securities Milan, formerly called Monte Titoli.

The purchase price will be paid in cash and amounts to €57 million, subject to customary closing adjustments.

Euronext reports that the transaction is a step in its 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.”

The deal will mean that Euronext has internalised the core trading platform of MTS and its largest IT contract. The goal, as noted by Euronext, is to become more agile and efficient by fully owning the technology powering MTS and Euronext Securities Milan.

Nexi has been a partner of choice of MTS and Euronext Securities Milan for more than 30 years. Following the Transaction, Nexi will continue to provide technology services to Euronext under transitional arrangements and other services under related commercial agreements.

The deal will be realized through Euronext’s subsidiaries MTS and Euronext Securities Milan, and 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.

Renato Martini, digital banking & corporate solutions director at Nexi, said, “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.”

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 centre 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.”

©Markets Media Europe, 2022