Euronext Expands Service Offerings with Strategic Acquisition of Acupay Group

Euronext Expands Service Offerings with Strategic Acquisition of Acupay Group

(IN BRIEF) Euronext has announced the acquisition of the majority of Acupay Group’s business, a leader in financial reporting, corporate actions, cross-border tax relief, and securities processing. Founded in 2005, Acupay offers technology solutions that help cross-border investors avoid double taxation by connecting brokers and banks with securities issuers. The acquisition aims to enhance Euronext Securities’ service offerings, particularly in Italy, and will be financed with existing cash reserves, maintaining Euronext’s deleveraging path. Euronext’s CEO, Stéphane Boujnah, and Acupay’s President, Stef Lambersy, expressed optimism about the collaboration, highlighting the potential for growth and innovation in service delivery.

(PRESS RELEASE) AMSTERDAM/BRUSSELS/DUBLIN/LISBON/MILAN/OSLO/PARIS/COPENHAGEN, 2-Oct-2024 — /EuropaWire/ — Euronext, the premier pan-European market infrastructure, has announced its acquisition of the majority of the Acupay Group’s operations, a leading player in financial reporting, corporate actions, cross-border tax relief, and securities processing.

Established in 2005, Acupay specializes in providing technology solutions that alleviate double taxation for cross-border investors. Its proprietary system connects brokers and banks with securities issuers, enabling custodian banks to generate tax certificates electronically. This functionality empowers investors to effectively navigate the complexities of cross-border withholding tax. Furthermore, Acupay, in collaboration with BondCom, offers services that aid issuers in managing their liability through the identification of bondholders.

This strategic acquisition significantly broadens the range of services offered by Euronext Securities, particularly enhancing its offerings for investors and issuers. With Acupay’s strong foothold in Italy, Euronext plans to leverage its extensive network throughout Europe to scale Acupay’s services further. This move is also expected to bolster Euronext’s non-volume-related revenue streams.

The acquisition will be financed entirely with existing cash reserves, ensuring that Euronext’s deleveraging trajectory remains unaffected.

Stéphane Boujnah, Chief Executive Officer and Chairman of the Managing Board of Euronext, commented, “The acquisition of Acupay marks a pivotal advancement in expanding the services of Euronext Securities. As the third-largest central securities depository operator in Europe, this integration allows us to provide innovative value-added services to our clients. We are pleased to welcome the talented Acupay team, whose expertise in financial reporting and cross-border tax relief will enhance our capabilities in serving issuers, custodians, brokers, and investors on an international scale.”

Stef Lambersy, President of Acupay, expressed enthusiasm about the acquisition: “Euronext’s acquisition of Acupay highlights the significance and quality of our services and affirms our future aspirations as a premier service provider, supported by a robust pan-European market infrastructure. Our team is excited to join Euronext and collaborate on delivering an enriched value proposition for Euronext’s clients.”

Robert Apfel, Founder of Acupay, added, “I am thrilled to witness this crucial milestone in Acupay’s journey. This achievement underscores the success of the solutions developed by our team, which have driven our continued growth. Joining Euronext opens up new avenues for expansion, and I am confident that this collaboration with Euronext Securities will yield significant 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.
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Disclaimer
This press release is for information purposes only and is not a recommendation to engage in investment activities. This press release 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 located at www.euronext.com/terms-use.

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SOURCE: Euronext