8-KMaterial AgreementsOther EventsExhibits & Filings

NASDAQ, INC. 8-K Report, Material Agreement (Sep 8, 2017)

Filed September 8, 2017For Securities:NDAQ

Summary

This 8-K filing by Nasdaq, Inc. (NDAQ) announces a significant strategic move: the acquisition of eVestment, Inc. for $705 million in cash. eVestment is a prominent provider of data and analytics for the investment management industry. This acquisition is expected to enhance Nasdaq's data and analytics offerings, a key growth area for the company, and will be integrated as a wholly-owned subsidiary. The transaction is subject to customary closing conditions, including regulatory approval under the Hart-Scott-Rodino Antitrust Improvements Act. For investors, this acquisition signals Nasdaq's commitment to expanding its Information Services segment, which typically boasts higher margins and recurring revenue streams. The substantial cash outlay indicates confidence in eVestment's growth potential and its ability to contribute to Nasdaq's top-line and bottom-line performance. Investors should monitor the integration progress and the impact on Nasdaq's financial results, particularly in the Information Services segment, as well as the company's leverage and cash flow management post-acquisition.

Key Highlights

  • 1Nasdaq, Inc. entered into a definitive agreement to acquire eVestment, Inc. for $705 million in cash.
  • 2The acquisition is structured as a merger where eVestment will become a wholly-owned subsidiary of Nasdaq.
  • 3eVestment provides data and analytics solutions for the investment management industry.
  • 4The transaction is subject to customary closing conditions, including antitrust review under the Hart-Scott-Rodino Act.
  • 5Nasdaq is financing the acquisition entirely in cash.
  • 6The filing was made on September 7, 2017, with the event date being September 3, 2017.

Frequently Asked Questions

Nasdaq is acquiring eVestment to expand its data and analytics capabilities, a key strategic growth area for the company. eVestment's established position in providing data and analytics to the investment management industry is expected to complement Nasdaq's existing offerings and strengthen its Information Services segment.

Nasdaq is acquiring eVestment for $705 million in cash, indicating the transaction is fully funded with available cash resources or existing credit facilities.

The closing of the merger is subject to the satisfaction or waiver of certain conditions, notably the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, which reviews mergers for antitrust compliance. Shareholder approval from eVestment has already been obtained by written consent.

The filing does not specify an exact closing date. However, it mentions customary covenants relating to the operation of eVestment's business between signing and closing, suggesting the process is underway and subject to regulatory review.