New York-based Nasdaq Inc. has closed its planned acquisition of International Securities Exchange (ISE) from Deutsche Börse Group AG, which was announced earlier this year.
Nasdaq is paying approximately US$1.1 billion for ISE, an operator of three electronic options exchanges: ISE, ISE Gemini and ISE Mercury. As part of the transaction, Nasdaq also doubles its stake in The Options Clearing Corp. to 40%.
“The acquisition will improve efficiencies for clients, expand the company’s technology offerings and create more opportunities to innovate within the equity options industry,” Nasdaq said in a statement.
When the deal was announced in March, Nasdaq said that it expects the transaction will be accretive to its earnings within 12 months of closing. Within 18 months, Nasdaq expects the combined organization to realize a minimum of US$40 million in annualized expense synergies.