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March 20, 2019
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Nasdaq Makes Offer To Acquire Crypto-Friendly Fintech Startup

Major Wall Street mainstay Nasdaq is reportedly following the lead of its peers in seeking ways to slowly enter the cryptocurrency space and has made an offer to acquire a crypto-friendly fintech startup based in Stockholm, Sweden.

Nasdaq Moves to Acquire Cinnober in $ 190 Million Deal

One of the worlds largest stock exchanges, Nasdaq, has a public offer to Swedish fintech solutions firm Cinnober.Cinnober is a “leading provider” of exchange and real-time clearing technology, and their services include a “high performance trading and post-trade solution “for cryptocurrency exchanges.

Nasdaq will acquire Cinnober if the $ 190 million all-cash public offer is to be accepted by Cinnober shareholders. Nasdaq notes in a press release that it expects a 10% return on the invested capital within 3-5 years, assuring shareholders that the acquisition is in the company’s best interests.

Nasdaq says that acquiring Cinnober would strengthen its position as “one of the worlds leading market infrastructure technology providers.”

Adena Friedman, President, and CEO of Nasdaq said: “The combined intellectual capital, technology, and capabilities of Cinnober and our Market Technology business.

“Not only have the global capital markets continued to evolve rapidly, new marketplaces in various industries are demanding market technology infrastructure that allows rapid growth and scale as well as access to tools to promote market integrity. This acquisition will enhance our ability to serve market infrastructure operators worldwide, and will accelerate our ability to expand into new growth segments, “Friedman added.

Cinnobers Board Urges Shareholders and Warrant Holders to Accept the Offer

Cinnobers Board of Directors has released a statement that is publicly recommending that the “shareholders and warrantees of Cinnober Financial Technology accept the public offer made by Nasdaq.”

The board is also allowed to perform the due diligence of the Cinnober structure and operations in relation to the offer. The offer acceptance period begins “on or around” October 29, 2018 and expires on or around December 14, 2018 barring any extensions.

Nasdaq to Bolster Its Analytics Hub Tools

The move to acquire a crypto-friendly fintech startup in the world The meeting was held to discuss the maturation of the cryptocurrency industry as a whole.

The acquisition may also be credited to the exchange of funds for the exchange of funds for the sale of property in the United States. Bitcomin and Ethereum.An Analytics Hub will report on sentiment for nearly 500 crypto assets, including data from exchanges, social media, and transaction data from top cryptocurrency wallets.

Featured image from Shutterstock.

The post Nasdaq Makes Offer to Acquire Crypto-Friendly Fintech Startup appeared first on NewsBTC.

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