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We are pleased to announce that NovitasFTCL acted as exclusive financial advisor to the shareholders of Commcise on its sale to Euronext.
Euronext acquires 78% of the firm from its founders for an initial cash consideration of £27 million. Commcise had ACV (annual contract value) revenues of £3.7 million at the end of September 2018, more than 6x the level it generated in 2016.
Commcise is a cloud-based Commission Management, Research Evaluation and Accounting solution built to meet the needs of investment managers, brokers and research providers. It combines Research Funding, Consumption and Reporting into a single fully integrated platform. Euronext is the leading pan-European exchange in the Eurozone, covering Belgium, France, Ireland, The Netherlands, Portugal and the UK. It operates equity and derivatives markets, is the largest centre globally for debt and funds listings, and provides technology and managed services to third parties.
For further information on the transaction, please find below a link to its press release:
https://www.euronext.com/investors/news-detail/780273/title
