Summary
On September 7, 2004, The Nasdaq Stock Market, Inc. (Nasdaq) announced the successful completion of its acquisition of Brut, LLC, and its affiliated entities, from SunGard Data Systems, Inc. Brut operates the Brut electronic communication network. This strategic move signifies Nasdaq's expansion and integration of a key trading infrastructure. The total cash consideration for this acquisition amounted to $190 million, funded by Nasdaq's existing cash and investments. This acquisition is expected to enhance Nasdaq's market position and technological capabilities, particularly within the electronic trading space. Investors should note that detailed financial statements and pro forma information related to this acquisition will be filed in a subsequent amendment.
Key Highlights
- 1Nasdaq has completed the acquisition of Brut, LLC and its affiliated entities.
- 2Brut, LLC is the owner and operator of the Brut electronic communication network.
- 3The acquisition was made from SunGard Data Systems, Inc.
- 4The total cash consideration paid for the acquisition was $190 million, subject to post-closing adjustments.
- 5The acquisition was funded through Nasdaq's available cash and investments.
- 6A press release dated September 7, 2004, provides further details on the transaction.
- 7Financial statements and pro forma information will be filed by amendment within 71 days.