Euronext N.V. (ENXTPA:ENX) has entered into an agreement to acquire 75% stake in Global Rate Set Systems on March 29, 2024. This acquisition significantly strengthens the Euronext index franchise adding very strong capabilities in contributed data indices and data from a highly respected provider. The acquisition of GRSS further diversifies and strengthens Euronext?s index franchise, positioning the Group as a leading player for calculating and administrating Interbank Offered Rate (IBOR) indices.

In partnership with GRSS management and its founder, Euronext aims to reinforce the positioning of GRSS to become the go-to provider in the contributed data and indices space, leveraging on Euronext?s global leadership and recognition. This acquisition contributes to the growth of Euronext?s fixed and subscription-based revenue. The transaction will be fully financed with existing cash and will not impact Euronext?s deleveraging path.

The completion of the transaction is expected in Q2 2024 and is subject to the usual regulatory approvals.