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Euronext acquired Borsa Italiana in a deal worth more than $5billion

London- On Thursday, Euronext has completed its acquisition of Borsa Italiana that is from the London Stock Exchange Group, and the deal worth around 4.4 billion euros. The move was first announced in October and also receives the green light from the European regulators in the month of March.

Well, Euronext is a European exchange operator which reshuffled its leadership in the month of January to prepare for the takeover of the whole Italian group.

On Thursday, Stephane Boujnah, the chief executive officer of Euronext mentioned, “the significantly scaled-up Group is now positioned as the leading venue in Europe for listing and secondary markets for both debt and equity financing.” He even added, “In addition, Euronext increases its business diversification with new capabilities in fixed income trading and clearing.”

Euronext’s data center is basically based out of Bergamo, Italy, and must be operational as of 2022. Euronext said, “The migration is being planned in response to multiple factors, including the acquisition of the Borsa Italiana Group, the dynamic created by Brexit, and a strong rationale to locate the Group’s core data center in a country where Euronext operates a large business.”

As per the Borsa Italian report on Thursday, it is found that stable revenues of 124.1 Million euros gained in the first quarter of 2021. In the meantime, Euronext reported around revenues of 5% at 249.2 million euros for the same time period.

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