Nasdaq Buying Software Maker Adenza for $10.5 Billion

NASDAQ, the second largest U.S. stock exchange, has agreed to acquire financial software maker Adenza for $10.5 billion. The CEO of NASDAQ believes this acquisition will allow them to offer a broader range of solutions that enhance the financial system's liquidity, transparency, and integrity. However, the market reacted negatively, with NASDAQ's stock experiencing its worst day since March 2020. Adenza provides financial services software to hedge funds and banks, and NASDAQ aims to create a less volatile revenue base through this acquisition. Despite the long-term potential, investors are currently skeptical, as reflected in the stock's decline.

What challenges are investors currently facing regarding NASDAQ's stock?

What was the revenue of Adenza last year?