Euronext Corporate Services, a part of the Euronext Group, has announced on Wednesday its acquisition of two Finish compliance platforms – Ticker Software and Sidonnaisuusrekisteri.fi.
The first one is a leading local market platform for list management and the other is a liability register for Finnish municipalities.
Euronext is buying the parent of both the companies which will be put under the ownership of InsiderLog, the Euronext Corporate Services subsidiary specializing in compliance solutions.
The European exchange acquired InsiderLog in 2018 in a €5.8 million ($6.5 million) all cash-deal with additional performance-based payout.
Expanding presence in Europe
The recent acquisitions came when the company is expanding its presence in the Nordic region under its three-year strategic plan. Notably, InsiderLog is also a major list management company in the Nordic region.
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Commenting on the move, Mathieu Caron, Head of Euronext Corporate Services, said: “The acquisition of Ticker Software and Sidonnaisuusrekisteri.fi is a new milestone in the development of Euronext Corporate Services in the Nordics.”
“This is a unique opportunity to expand our footprint in the Finnish market, and we look forward to working with our new team members, with local issuers, and with other actors in the financial industry, and to deploying our complete suite of solutions.”
Euronext is creating a new entity combining InsiderLog with Ticker Software and Sidonnaisuusrekisteri.fi, thus managing insider lists for a total of around 550 clients, making it “one of the leaders in Europe and a clear leader in the Nordic countries.”
“This is the first build-up transaction made by a subsidiary of Euronext Corporate Services since its initial creation, and it demonstrates the dynamism of this franchise and the renewed support of Euronext for its development,” Caron added.
Last April, Euronext also agreed to buy a 70 percent controlling stake in Nordic-focused central securities depository (CSD) VP Securities.