The NASDAQ OMX Group has signed an agreement to acquire SMARTS Group, the technology provider of market surveillance solutions to exchanges, regulators and brokers.
This acquisition is part of NASDAQ OMX's strategy to diversify its commercial technology business and enter the broker surveillance and compliance market, Nasdaq said in a release.
SMARTS will be part of the NASDAQ OMX Market Technology business, which delivers technology to over 70 marketplaces in more than 50 countries.
Under the agreement NASDAQ OMX will acquire 100 percent of the shares in privately held SMARTS Group Holdings. The transaction is expected to be concluded within Q3 2010. Financial terms of the transaction were not disclosed. Marlin & Associates acted as exclusive financial and strategic advisor to SMARTS.
Australia-based SMARTS has set the benchmark for surveillance systems, with the most proven and widely adopted surveillance solutions in the world.
Anna Ewing, CIO of NASDAQ OMX, said: "The acquisition of SMARTS is a strategic fit with NASDAQ OMX's commercial technology business. Efficient surveillance operations are imperative to ensure integrity in today's financial markets, and SMARTS allows us to capitalize on the growing demand for surveillance technology products in exchange, regulator and broker markets worldwide. We are also excited about expanding our presence in Australia and look forward to leveraging SMARTS' center of excellence and innovation in the region."
Dr. Andreas Furche, CEO of SMARTS Group Holdings, said: "We are proud to have been chosen by NASDAQ OMX. This acquisition is recognition of the strength of our solutions, Australian innovation and the talent and professionalism of the SMARTS team.
Being part of NASDAQ OMX provides enormous growth opportunities for SMARTS surveillance technologies and provides us with the direct connection to the U.S. markets that we have been seeking. Moreover, the SMARTS customer base will benefit from the added confidence of working with a world-leading company that has a similar customer base and therefore understands the business and requirements of SMARTS' customers."
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