Nasdaq OMX Group has signed an agreement to acquire Australia-based Smarts Group, a provider of market surveillance solutions to exchanges, regulators and brokers.
Smarts Group will be part of the Nasdaq OMX Market Technology business, which delivers technology to over 70 marketplaces in more than 50 countries.
Under the agreement Nasdaq OMX will acquire 100% of the shares in privately held Smarts Group Holdings. The transaction is expected to be closed before third quarter of 2010.
Smarts Group has over 30 national exchange and regulatory customers as well as 50 broking firm clients in more than 30 countries. The group has over 130 employees.
Anna Ewing, chief information officer of Nasdaq OMX, said: “Efficient surveillance operations are imperative to ensure integrity in today’s financial markets, and Smarts allows us to capitalize on the growing demand for surveillance technology products in exchange, regulator and broker markets worldwide.
“We are also excited about expanding our presence in Australia and look forward to leveraging Smarts’ center of excellence and innovation in the region.”