FTC Appeals to Federal Court to Stop Microsoft-Activision; Nasdaq to Buy Adenza

by Hannah Dillon on 14th Jun 2023 in News

In today's ExchangeWire news digest: the FTC asks for an injunction to block Microsoft's purchase of Activison Blizzard; Nasdaq is set to buy Adenza for USD$10.5bn (~£8.3bn); and Insight Partners slashes the target for its latest fund.

FTC asks for injunction to stop Microsoft-Activision

The US Federal Trade Commission has asked a federal court to intervene as the regulator attempts to prevent Microsoft’s acquisition of Activision Blizzard. The FTC requested an injunction from the San Francisco federal court on the basis of recent reports that Microsoft was contemplating closing the USD$75bn (~£59.6bn) deal despite opposition from lawmakers in the UK and US.

Nasdaq to acquire Adenza

Nasdaq has agreed to buy software firm Adenza in the biggest acquisition for the exchange operator to date. The USD$10.5bn (~£8.3bn) deal is the latest in a purchasing spree from Nasdaq, which is ramping up its push to curate a more technology-focused portfolio; the exchange previously purchased software firm Verafin for USD$2.75bn (~£2.1bn).

Insight Partners cuts USD$20bn fund

One of the US’ largest technology growth investors, Insight Partners, has revised the USD£20bn (~£15.9bn) target for its latest fund as tech valuations remain sluggish. The venture capital firm has only raised around USD$2bn (~£1.5bn) for its 13th fund since presenting it to investors last June. In a letter to institutional investors, Insight stated it was witnessing a “great reset in tech” and amended its target to USD$15bn (~£11.9bn).