Acquisition reaffirms NowCM’s central role as consolidator and the leading tech solutions provider in the primary bond markets.
London, 25 January 2023. NowCM Group CEO and Founder Robert Koller today announced that the NowCM Group has entered into an asset purchase agreement to acquire all digital and IP assets of London-based fintech Nivaura, with key clients looking to join NowCM’s long-term growth story and vision for primary debt markets. The transaction further diversifies NowCM’s client offering, creating both operational synergies and stakeholder value in the process.
“We believe the incorporation of these assets into NowCM provides increased clarity and direction and will help position us to accelerate the adoption of digital solutions in and overall growth potential of primary bond markets across fragmented workflows in the EU, UK, as well as globally”, says Koller.
Building on the successfully established connectivity between NowCM and other leading pioneers in the digitalisation of primary bond markets, this acquisition further strengthens NowCM’s position as the leading provider of bond digitalisation solutions across the primary value chain. NowCM also continues on the path to provide a collaborative and central digital entry point for the creation, negotiation and management of data in the regulated, multi-party workflow of primary debt markets. The platform remains open for further collaboration and additional points of external connectivity will be announced in the near future.
NowCM is implementing its long-term strategy to become the global omni-channel and golden source for bond issuance
In line with the chosen strategy to be “DLT-ready” to support the adoption of digitally native assets, NowCM will integrate Nivaura’s blockchain-neutral tokenisation solutions, continue to support the DCM Flow platform of the London Stock Exchange, commit to making Nivaura’s General Legal Markup Language, also known as GLML, native to its own platform and provide enhanced automation and issuance services to Nivaura’s existing issuer and bank clients.
Koller comments: “We are very proud to note that NowCM’s capabilities and open architecture are increasingly being recognised as the portal to digital capital markets. Since the beginning, NowCM has focused on identifying and solving real-life challenges. One of our key ambitions was to deliver more than just efficiency gains and real-time execution. We want to make this digitalisation journey about how we grow markets, grow funding opportunities for issuers and grow the DCM customer bases of banks and other service providers.”
NowCM Executive Chairman and Co-Founder, Fredrik Creutz adds: “The digital imperative is clear and real and increasingly omni-present in our economy, but it is not a goal in itself. It is that link to economic growth, and the potential to accelerate the delivery of resilient growth through digital capital markets that affects all of us. This is what matters and what people care about. So, this is what matters to us and what we care about.”
Alan Morgan, Chairman of the Board at Nivaura, states: “We are pleased to complete this transaction with NOWCM Group which delivers the strengths of both our solutions. We are pleased that our work has found a like-minded home that will continue to provide service to our clients and partners.”
Nivaura CEO, Scott Eaton, commented: “Industry consolidation is a necessary step to bringing automation to capital markets and NowCM is a great partner to take our technology forward to the next level.”
NowCM is the leading digital solutions and infrastructure provider for the primary debt markets. It provides a unique end-to-end digital solution offering issuers with a digital transaction workflow, or, in the case of new entrants, with a fully regulated CMaaS (Capital Markets as a Service) funding “subsidiary” using standardised documentation. The NowCM solution is relevant for both large and small companies and provides improved harmonisation of capital markets in a MiFID II, GDPR and CMU compliant environment, without media breaks. NowCM also owns and operates a multi-lateral trading facility (MTF) which is the world’s first and only primary marketplace, regulated by the ACPR and AMF (France). NowCM, is also a member of Swift.
NowCM was advised by Clifford Chance London, led by corporate partner Erik O’Connor and supported by Chelsea Bruk-Jackson, Caroline de Chastelain and Daniel Murray. Vanessa Marsland and Molly Margiotta advised on IP aspects.
NowCM’s inhouse team was led by Acting General Counsel and Global Head of Data Integrity Constanze Doering and supported by Founder and CEO, Robert Koller, Co-Founders Fredrik Creutz and David Laderman, CFO Florian Waizenegger and special adviser to the board, Dan Marcus.
Nivaura was advised by Orrick, Herrington & Sutcliffe, let by Chris Grew, and supported by Chris Perry and Kirstie Parr. Nivaura’s in-house team was led by CEO Scott Eaton, CFO Gavin Youll, CTO/CPO Grant Webster, in-house counsel Martin Davidson, and founder Marcello Fiori.
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