Nasdaq acquires Swedish crypto software provider

According to Swedish media, the American Nasdaq exchange has made an offer to purchase Cinnober, a Swedish software provider for crypto exchanges, for $190 million. According to a Nasdaq statement, the acquisitions will strengthen the company's position as one of the largest software providers for digital markets.

Adena Friedman, President and Chief Executive Officer of Nasdaq, said: “Combining the intellectual capital and capabilities of Cinnober and our Market Technology division will be able to expand and deepen the operations of our company's fastest-growing division.”

“It's not just the capital markets that are evolving today. New trading platforms require new marketplace technology infrastructures that will enable rapid development, scale. These structures will provide access to tools that will help ensure market integrity. This acquisition will improve our ability to serve market operators infrastructure around the world, and will accelerate our expansion into new growth industries.”

Nasdaq is the world's second largest exchange by market capitalization, valued at approximately $10 trillion. Today this stock exchange is the world's largest electronic resource. According to Cinnober representatives, the board of directors unanimously recommended that shareholders accept the deal. The acquisition is expected to be finalized by the end of 2018.

Nils-Robert Persson, co-founder and Chairman of the Board of Directors of Cinnober, said: "Since Cinnober's founding in 1998, the company has come a long way to become a leading provider of financial technology services. I view this proposal as the next step in Cinnober's development. I believe in the strategic feasibility of combining Cinnober and Nasdaq Market Technology and support the proposal," and intends to accept it.”

According to news.bitcoin.com