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Nexi Sia sells to Euronext, historic BTP platform leaves Italy

Nexi Sia sells to Euronext, historic BTP platform leaves Italy

Nexi sold its historic technology platform Sia to Euronext, which operates MTS internationally, namely European bonds, starting with Italian government debt, BTPs. The asset was acquired by Euronext Securities Milan, the former Monte Titoli, which belongs to the Dutch holding company where Cdp Equity owns 7.3% and Intesa Sanpaolo 1.5%. It is a historic move, as the Italian public debt platform has passed into the hands of Europe. And under French management, given that Euronext’s CEO is Stéphane Bouguen, a manager close to Macron’s government. The deal, worth 57 million euros, will be paid for in cash.

Sia platform, an important step for managing Eurobonds

Through this transaction, Euronext is working to improve skills and technological capabilities in the trade and post-trade sector at a European level. It is undoubtedly an important step to be able to appear in Brussels before the European Commission to demand that it become a reference platform in the management of Eurobonds. Talks between CEO Boujana and the EU Commission had already surfaced a year ago, when Euronext took over spa bag From the London Stock Exchange in a consortium with Italian shareholders for 4.43 billion euros.

Not coincidentally, as European Listings Holding explains, which also operates stock exchanges in Amsterdam, Brussels, Dublin, Lisbon, Oslo and Paris, this acquisition represents the largest IT contract ever signed. Nexi explains that the sale of the capital markets activities is the result of a strategic review of the group’s portfolio following the completion of the mergers with Nets and Sia, in order to focus on the reference markets. Once the divestiture is complete, “Nexi will continue to provide technology services to Euronext under transition agreements and other services under relevant trade agreements,” the note to Markets explained.

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The transaction, which will be executed through subsidiaries of Euronext MTS and Euronext Securities Milan, is expected to take place in the second half of 2022 and is subject to delegations from the relevant authorities and the completion of the consultation process with the union. Kpmg and Chiomenti assisted Nexi as financial and legal advisors.

Ladd Bogne (Euronext): a milestone in the merger of the Italian Stock Exchange

Stephan Bogna, CEO and Chairman of Euronext, explained, “The acquisition of the technology assets behind MTS and Euronext Securities Milan marks a milestone in the merger of the Italian Stock Exchange group. For Euronext, the ability to dispose of intellectual property from critical activities is an essential part of A strategy aimed at ensuring the solidity of our operations, for further development
and product innovation.”

Renato Martini, Director of Digital Banking and Corporate Solutions at Nexi, explained, “This sale, in line with our strategy following mergers with Sia and Nets, will allow us to focus more on our core business, digital payments, accelerate growth in Europe and focus on Create synergy.” (All rights reserved)