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UPDATE -- Nasdaq Announces Exploration of Strategic Alternatives for Public Relations Solutions and Digital Media Services Businesses(September 28, 2017)
NEW YORK, Sept. 28, 2017 (GLOBE NEWSWIRE) -- Nasdaq, Inc. (Nasdaq:NDAQ) announced today that it has commenced a process to evaluate potential strategic alternatives for the Public Relations Solutions and Digital Media Services units within its Corporate Solutions business. This process is a result of Nasdaq's refined strategic direction, which emphasizes the company allocating more resources towards technology, data and analytics opportunities, leveraging its capital markets foundation.
"Nasdaq Corporate Solutions is a market-leading franchise built over the last decade to help public and private companies around the world successfully navigate the capital markets," said Adena Friedman, President and CEO, Nasdaq. "As a technology company, our growth path requires a review of our core strengths matched with the evolving needs of our clients. We intend to use our strengths in advanced marketplace technology and information analytics, coupled with our deep understanding of market dynamics, to provide actionable intelligence to corporate executives and boards, through our world-leading Investor Relations and Governance intelligence and collaboration tools."
The Public Relations Solutions and Digital Media Services businesses include the following products and services:
- Nasdaq GlobeNewswire: a global press release distribution platform and media contacts database
- Nasdaq Influencers: a service to identify and connect with relevant social media profiles
- Nasdaq Media Intelligence: a media monitoring and analyst-curated daily news reporting service
- Nasdaq IR Websites and Newsrooms: an open source-enabled webhosting service for investor relations and communications functions
- Nasdaq Webcasts: a multimedia service that publishes webcasts, webinars, video presentations and other content
Over the twelve month period ending June 30, 2017, the Public Relations Solutions and Digital Media Services businesses generated approximately $195 million of revenues and $25 million of operating income.
Nasdaq is dedicated to providing corporate clients with successful access and interaction with the capital markets, accompanied by strategic C-Suite and board solutions that provide investor relations intelligence and governance collaboration. Nasdaq plans to continue to invest in its Investor Relations solutions, as well as its Board & Leadership tools as strategic solutions to our thousands of global corporate clients.
Nasdaq has not set a definitive timetable for this process, nor has it made final decisions related to specific strategic alternatives at this time. Throughout this process, Nasdaq remains committed to all contracts and services and there will be no change to the high level of service the company delivers to its corporate clients. Nasdaq does not intend to provide further public comments on the strategic evaluation of these businesses unless there is a material development.
Nasdaq (Nasdaq:NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $12 trillion. To learn more, visit: http://business.nasdaq.com/.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about strategic initiatives, acquisitions or divestitures and Nasdaq’s products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These factors include, but are not limited to factors detailed in Nasdaq’s annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
Media Relations Contact:
Investor Relations Contact:
Ed Ditmire, CFA