{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-164839","form_type":"8-K","ticker":"NDAQ","cik":"0001120193","company_name":"NASDAQ, INC.","filed_at":"2023-06-12T23:59:59+00:00","discovered_at":"2026-05-14T18:03:37.989850+00:00","generated_at":"2026-06-14T02:41:59.659658+00:00","sec_items":["1.01","3.02","7.01","8.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Nasdaq to acquire Adenza from Thoma Bravo for $10.5B in cash and stock","bullets":["Deal: $10.5B total – $5.75B cash plus 85.6M Nasdaq shares (~14.9% stake to Thoma Bravo).","Adenza: ~$590M 2023E revenue, 58% adj. EBITDA margin, 98% gross retention, 115% net retention.","Closing expected in 6-9 months; subject to regulatory approvals; bridge financing of $5.7B committed.","Net expense synergies: $80M run-rate by year 2; revenue synergies: $50M medium-term, $100M long-term.","Nasdaq's Solutions Businesses revenue share to rise to 77%; organic growth outlook increased to 8-11%."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-164839","json":"https://secwatch.observer/filing/0001193125-23-164839.json","markdown":"https://secwatch.observer/filing/0001193125-23-164839.md","text":"https://secwatch.observer/filing/0001193125-23-164839.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1120193/000119312523164839/0001193125-23-164839-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1120193/000119312523164839/d476077d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-14T02:41:59.659658+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}