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Euronext acquires Irish Stock Exchange for EUR137m

BBR Staff Writer Published 01 December 2017

Pan-European exchange Euronext has acquired The Irish Stock Exchange (ISE) in a deal worth €137m.

The agreement combines ISE's listing expertise with the traded markets expertise of Euronext, creating a global player in debt and fund listings.

The deal makes Ireland the sixth European country in which Euronext operates. It joins Belgium, the UK, France, the Netherlands, and Portugal.

Headquartered in Dublin, ISE generated revenue of €29.4m in 2016. The company's EBITDA and net income was €9.6m and €8m, respectively, in 2016.

ISE generated €24.2m of revenue for the first 9 months of this year, up 13.3% compared to the same period in 2016.

ISE CEO Deirdre Somers said: "This transaction recognises the significant value and leading market position that has been built by the ISE. More importantly, we believe that Euronext is the perfect partner to enable us to achieve our growth ambitions.

“Euronext is hugely complementary to the ISE, bringing valuable expertise, financial strength, global relationships and technological capability as well as a global brand. These will enable our business to build further on its track record of international achievement and capitalise on new market and product opportunities emerging in Europe.”

Euronext will benefit from ISE’s global positions in debt and fund listings as well as its product and listing expertise.

ISE will also strengthen Euronext’s growth outlook due to its embedded core businesses’ growth and additional strategic growth plans.

Euronext managing board chairman and CEO Stéphane Boujnah said: “The Irish Stock Exchange joining Euronext represents a major milestone in the expansion of Euronext’s federal model since its IPO. ISE brings to Euronext leading global positions in debt, funds and ETF listings markets. As part of Euronext, ISE’s growth initiatives will be reinforced with Euronext’s full support.

"In addition to strengthening revenue profile and cost synergies, ISE is ideally positioned to benefit from market opportunities in a post-Brexit environment.”

Image: Stéphane Boujnah, Euronext CEO and Deirdre Somers, Irish Stock Exchange CEO at the announcement in Dublin. Photo: Courtesy of The Irish Stock Exchange.