Nasdaq is exploring “strategic alternatives” for its public relations and digital media services units as part of efforts to reshape the company to focus on technology, data and analytics.
The units up for grabs are part of Nasdaq’s corporate solutions business, which in the second quarter accounted for 16 per cent of company’s total net revenue of $602m.
Under chief executive Adena Friedman, who took over in January, Nasdaq has been honing its strategy. Until now, the company has been acquiring assets such as eVestment, which sells analytics to asset managers, and Sybenetix, a London-based software company that uses artificial intelligence to snuff out rogue traders.
“As a technology company, our growth path requires a review of our core strengths matched with the evolving needs of our clients,” Ms Friedman said in a statement. “We intend to use our strengths in advanced marketplace technology and information analytics, coupled with our deep understanding of market dynamics, to provide actionable intelligence to corporate executives and boards, through our world-leading investor relations and governance intelligence and collaboration tools.”
Image source: AP
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