Nasdaq, Inc. (NDAQ) has agreed to sell its U.S. fixed income business, Nasdaq Fixed Income, to an affiliate of Tradeweb Markets Inc. (TW). The company said the decision to sell NFI aligns with its corporate strategy to concentrate resources and capital to maximize potential as a major technology and analytics provider to the global capital markets.

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Nasdaq, Inc. (NDAQ) has agreed to sell its U.S. fixed income business, Nasdaq Fixed Income, to an affiliate of Tradeweb Markets Inc. (TW). The company said the decision to sell NFI aligns with its corporate strategy to concentrate resources and capital to maximize potential as a major technology and analytics provider to the global capital markets.

RTTNews | Feb 2, 2021 07:41AM EST

07:41 Tuesday, February 2, 2021 (RTTNews.com) - Nasdaq, Inc. (NDAQ) has agreed to sell its U.S. fixed income business, Nasdaq Fixed Income, to an affiliate of Tradeweb Markets Inc. (TW). The company said the decision to sell NFI aligns with its corporate strategy to concentrate resources and capital to maximize potential as a major technology and analytics provider to the global capital markets.

Nasdaq plans to use the proceeds from the sale of NFI, available tax benefits and NFI working and clearing capital, as well as other sources of cash to repurchase shares in order to offset dilution to non-GAAP earnings per share. To facilitate the repurchases, the Nasdaq's Board has authorized an increase to the share repurchase program of an additional $1 billion.

Read the original article on RTTNews ( https://www.rttnews.com/3165890/nasdaq-to-sell-u-s-fixed-income-business-to-tradeweb-quick-facts.aspx)

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