Nasdaq set to sell BWise to SAI Global

Maria Nikolova

Until the closing of the transaction, SAI Global and BWise will continue to operate as independent companies.

Nasdaq Inc (NASDAQ:NDAQ) is set to sell its enterprise governance, risk and compliance (GRC) software platform BWise. The relevant announcement was made by Nasdaq earlier today, although no financial details about the transaction were unveiled.

Nasdaq said it had entered into agreement to sell BWise to SAI Global Pty Limited, an integrated risk management solutions expert. The closing of this transaction is subject to regulatory approvals, works council and other representative body consultations and notifications in applicable jurisdictions, and customary closing conditions. The deal is projected to be finalized in the first half of 2019.

BWise was established in 1994 and acquired by Nasdaq in 2012. Its enterprise GRC software platform and Risk Intelligence services and solutions help companies drive process efficiencies, enhance accountability, and reduce costs, resulting in improved decision making within an organization’s Enterprise Risk Management program. These solutions support companies of all sizes with operational risk management, internal audit, internal control, compliance, and information security programs.

SAI Global helps organizations proactively manage risk to create trust and achieve business excellence, growth, and sustainability. The company’s integrated risk management solutions operate across their customers’ entire risk lifecycle, thereby offering a strategic alignment opportunity with the BWise product suite.

“This transaction is a result of Nasdaq’s renewed corporate strategy to concentrate our resources, people, and capital to maximize our potential as a technology and analytics provider to the capital markets, while also investing to enhance our leading marketplaces and the capital market clients we serve,” said Adena Friedman, President and CEO, Nasdaq. “SAI Global is the right partner for BWise, and we are confident in their ability to ensure BWise’s clients continue to receive excellent customer service and even more comprehensive risk and compliance services and solutions in the future.”

“We are excited about having SAI Global as our new partner and look forward to being able to accelerate our strategic vision as we continue to serve our clients amidst a fast-changing risk and compliance landscape,” said Jonathan Deeks, CEO, BWise. “By joining forces with SAI Global, we have a unique opportunity to drive change at a massive scale and reshape the industry.”

Until the closing of the transaction, SAI Global and BWise will continue to operate as independent companies.

Read this next

Retail FX

Spotware rolls out Manager’s API for cTrader brokers

Spotware Systems, a technology provider for the electronic trading industry, has released its new Manager’s API for Brokers, providing powerful tools for server-server integration.

Metaverse Gaming NFT

Dubai Museum taps Binance to jump onto NFT bandwagon

Dubai’s Museum of the Future, the $136 million UAE government-sponsored museum that opened a few weeks ago, is joining forces with Binance NFT to roll out a range of digital products on blockchain.

Digital Assets

Ripple and Lithuanian FINCI partner for XRP-based payments

Ripple is looking to expand its presence in Europe, forming a new partnership with Lithuanian electronic money institution FINCI.

Digital Assets

Crypto.com enables Shopify merchants to accept crypto payments

Crypto.com has integrated with Canadian e-commerce giant Shopify so global merchants can accept crypto payments and save on processing fees through cash-final settlements.

Institutional FX

FX volume drops 13pct at CLS Group in April 2022

FX settlement specialist CLS Group today reported that the executed volumes of currency trading on its platforms were notably down in April.

Crypto Insider, Opinion

Regulation: The Gold-Standard for Crypto-Assets

When the US supervisory authority SEC allowed an investment product referencing Bitcoin futures to be traded for the first time last October, this was widely perceived as a signal that cryptocurrencies had finally become established as an asset class.

Executive Moves

Solid hires FX industry veteran Darren Barker for multi-bank ECN’s business development

His curriculum vitae includes former roles at Cantor Fitzgerald, Sucden Financial, R.J. O’Brien, Jefferies, Natixis, Unicredit, J.P. Morgan, Raiffeisen, RBS International, UBS, Deutsche Bank, and Citi. 

Inside View

Mihails Safro, xpate CEO: Tips sellers need to know to overcome compliance obstacles

The unprecedented growth of e-commerce changed shopping dramatically last year. Many sellers suddenly faced a rapidly growing number of customers who had to stay home during the lockdown. When some clients adopted Netflix and Spotify as part of a daily routine, others ventured into online business. Robinhood alone saw a whopping 6 million rise in user numbers in 2 months. 

Institutional FX

BMLL delivers Level 3 data to Kepler Cheuvreux for order book analytics and algo performance

The solution covers more than 6.5 years of harmonised historical data from 65 venues and combines it with easy to use APIs and analytics libraries in a secure cloud environment. 

<