Euronext Sells Oslo Market Solutions
Euronext announced that it has completed the sale of Oslo Market Solutions (“OMS”) to Infront, a leading European provider of financial market solutions.
OMS is an online market data, investor relations, portfolio and trading solutions provider in the Nordic region and was acquired in 2019 as part of the acquisition of Oslo Børs VPS. OMS generated c. €3.3 million of revenue in 2020.
The sale of OMS was implemented in the context of the conclusion of a strategic review initiated following the integration of Oslo Børs VPS and the decision to divest from non-core activities.
Euronext will continue to work in close collaboration with OMS to continue delivering best-in-class services to its clients.
Based on Euronext 2020 full-year results, the sale of OMS would account for an increase of c.+0.2 pts to Euronext EBITDA margin. This will translate in 2021 as an additional cost reduction compared to the mid-single digit decrease in operating costs exc. D&A expected in 2021.
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