Deutsche Boerse data pivot comes at a price

SIMCORP A/S

27/04/2023 11:57

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are his own.)
    By Neil Unmack
       LONDON, April 27 (Reuters Breakingviews) - Boss Theodor
Weimer is buying fund software firm SimCorp for 4 bln euros.
Like peer LSEG, the German exchange is hoping a shift into
the faster-growing data business will mean richer valuations.
It’s a logical gamble, but such deals are expensive, and take
time to pay off.       
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    CONTEXT NEWS
    Deutsche Boerse said on April 27 it had agreed an all-cash
acquisition of Danish software group SimCorp, valuing the group
at 3.9 billion euros. 
    The German exchange operator will pay 735 Danish crowns per
share for SimCorp, which provides software and analytics for
investment management companies, a premium of 39% over the
closing price on April 26. 
    Deutsche Boerse's shares fell over 6% to 170.85 euros as of
0902 GMT. 

 (Editing by Lisa Jucca and Streisand Neto)
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