Nasdaq has made an offer to the shareholders of the fintechcompany Cinnober, who has a large IT-development office in Umeå.
Cinnober provides solutions and services to leading trading and clearing venues, including exchanges, clearinghouses, banks and brokers. The company has offices in Stockholm, Umeå and London. Cinnober has around 60 employees in Umeå as well as around 30 employees on their subsidiary Minum.
– With Nasdaq as the new owner, Cinnober can benefit from a renowned name with a sound financial base which in the short- and mid-term perspective will accelerate Cinnobers strategy to focus on its existing business lines and return to profitability. In the long-term perspective Nasdaq will serve as a stable owner and a good home for Cinnober, says the board of directors of Cinnober in a press realese.
– The combined intellectual capital, technology competence and capabilities of Cinnober and our Market Technology business will expand the breadth and depth of our fastest growing division at Nasdaq, said Adena Friedman, President and CEO of Nasdaq.
There are currently no decisions on any material changes to Cinnober’s employees and management or to the existing organization and operations, including the terms of employment and locations of the business, said Nasdaq in a statment.
Two large shareholders and co-founders, the chairman Nils-Robert Persson and Peter Lenti, presenting approximately 18.3 percent of the shares and votes in Cinnober have expressed support for the offer and intend to accept it. But both Nyhetsbyrån Direkt and Dagens Industri are reporting that other big shareholders are thinking that the offer is to low. The offer is at 75 SEK per share, which makes the total offer worth 1,7 billion SEK.