ENXB Euronext NV

Euronext Securities expands its services offering with the acquisition of Acupay

Amsterdam, Brussels, Copenhagen, Dublin, Lisbon, Milan, Oslo and Paris – 2 October 2024 – Euronext, the leading pan-European market infrastructure, today announces that it has acquired substantially all the business of Acupay Group¹, global leader in financial reporting, corporate actions, cross-border tax relief, and securities processing.

Founded in 2005, Acupay offers a suite of technology services which provide relief from double taxation to cross-border investors. Its unique proprietary solution, which links brokers and banks to securities issuers, enables custodian banks to electronically prepare tax certificates and allows investors to effectively manage the impact of cross-border withholding tax. Acupay and BondCom’s ability to identify bondholders allows them to assist issuers with liability management exercises.

The acquisition of Acupay further expands Euronext Securities²’ services offering to investors and issuers, leveraging Acupay’s strong presence in Italy and opportunities to scale Acupay’s services through Euronext Securities’ network across Europe. The acquisition will also strengthen Euronext’s non-volume related revenue streams.

The transaction will be fully financed with existing cash and will not impact Euronext’s deleveraging path.

• Stéphane Boujnah, Chief Executive Officer and Chairman of the Managing Board of Euronext, said:

“The acquisition of Acupay is a step further in broadening Euronext Securities’ services offering. Euronext Securities is today the third largest central securities depository operator in Europe and this acquisition will enable us to offer new value-added services to our clients. We are glad to welcome the Acupay team, whose expertise in financial reporting, cross-border tax relief and securities processing will contribute to further reinforcing Euronext Securities’ ability to serve issuers, custodians, brokers and investors across borders.”

• Stef Lambersy, President of Acupay, said:

“The acquisition by Euronext of Acupay demonstrates the high relevance and quality of our services towards customers and validates our ambitions as a service provider for the future, backed by the pan-European market infrastructure. The team behind Acupay is very excited to join Euronext and develop an enhanced value proposition together for Euronext clients.”

• Robert Apfel, Founder of Acupay, said:

“I’m very excited to see this new important milestone in the history of Acupay. This underlines once again the success of the solutions developed by the Acupay team that already fuelled its continued expansion. I’m glad to see Acupay joining Euronext as I’m convinced that the collaboration with Euronext Securities will unlock new expansion opportunities.”

About Euronext

Euronext is the leading pan-European market infrastructure, connecting European economies to global capital markets, to accelerate innovation and sustainable growth. It operates regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal. With nearly 1,900 listed issuers and around €6.5 trillion in market capitalisation as of end June 2024, it has an unmatched blue-chip franchise and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets, one of Europe’s leading electronic fixed income trading markets and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities, FX, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. The Group provides a multi-asset clearing house through Euronext Clearing, and custody and settlement services through Euronext Securities central securities depositories in Denmark, Italy, Norway and Portugal. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. In addition to its main regulated market, it also operates a number of junior markets, simplifying access to listing for SMEs. For the latest news, follow us on X (twitter.com/euronext) and LinkedIn (linkedin.com/euronext).

Disclaimer

This press release is for information purposes only: it is not a recommendation to engage in investment activities and is provided “as is”, without representation or warranty of any kind. While all reasonable care has been taken to ensure the accuracy of the content, Euronext does not guarantee its accuracy or completeness. Euronext will not be held liable for any loss or damages of any nature ensuing from using, trusting or acting on information provided. No information set out or referred to in this publication may be regarded as creating any right or obligation. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. All proprietary rights and interest in or connected with this publication shall vest in Euronext. This press release speaks only as of this date. Euronext refers to Euronext N.V. and its affiliates. Information regarding trademarks and intellectual property rights of Euronext is available at www.euronext.com/terms-use.

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¹ Including the business of Acupay System LLC (‘Acupay’) and Bondholder Communications Group LLC (‘BondCom”)
² Euronext Securities is the Central Securities Depository (CSD) network connecting European economies to global capital markets. With CSDs in Copenhagen, Milan, Oslo and Porto, and assets under custody totaling €7 trillion as of 30 June 2024, Euronext Securities is one of the largest CSD operators in Europe.

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• 20241002_Acupay_VF

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