Euronext acquires remaining interest in iBabs

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ACQUISITION OF THE REMAINING 40% INTEREST OF THE FAST-GROWING, INNOVATIVE BOARD PORTAL PLATFORM

Amsterdam, Brussels, Dublin, Lisbon, Oslo and Paris – 3 March 2021 – Euronext, the leading pan-European market infrastructure, today announced the acquisition of the remaining 40% interest in iBabs, a leading provider of dematerialised and secured board portal solutions for corporate and public organisations in Europe, held by the founders of the company who are now exiting the business after a successful transition period. As detailed at the time of Euronext’s acquisition of iBabs in July 2017, Euronext has exercised its call option on the remaining interest of iBabs for a consideration of €53.2 million[1], on a debt-free-cash-free basis, representing an Adjusted EBITDA 2020 multiple of 10x.

Since Euronext’s acquisition of a 60% stake in July 2017, iBabs has been a major contributor to Euronext Corporate Services performance. iBabs has reported high double-digit revenue growth every year, with compound annual growth rate of +33% between 2017 and 2020, while remaining cost-efficient and demonstrating the scalability of its SaaS model. Through its integration into Euronext Corporate Services, iBabs has expanded its footprint in Europe and doubled its number of clients and number of users, reflecting increasing needs for digital solutions, secured meeting management and continued product innovation.

Stéphane Boujnah, Chief Executive Officer and Chairman of the Managing Board of Euronext, said:
“iBabs has been a continued driver of Euronext Corporate Services expansion over the last few years. Since our acquisition of the 60% stake in July 2017, iBabs has continued to develop its product offering while expanding its client base and geographic footprint. With iBabs, Euronext Corporate Service has positioned itself as a digital solutions provider both for public and private companies all across Europe thanks to its complete suite of services spanning from Governance, to Compliance, Communication and Investor Relations. Now that all Corporate Services entities are fully owned, Euronext has the ambition to continue to grow through a combination of geographic expansion and product innovation.”

 

[1] Enterprise value excluding pro rata share of normalized cash 

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About Euronext 
Euronext is the leading European capital market infrastructure, covering the entire capital markets value chain, from listing, trading, clearing, settlement and custody, to solutions for issuers and investors. Euronext runs MTS, one of Europe’s leading electronic fixed income trading markets, and Nord Pool, the European power market. Euronext also provides clearing and settlement services through Euronext Clearing and its Euronext Securities CSDs in Denmark, Italy, Norway and Portugal.
As of September 2025, Euronext’s regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal host over 1,700 listed issuers with €6.5 trillion in market capitalisation, a strong blue-chip franchise and the largest global centre for debt and fund listings. With a diverse domestic and international client base, Euronext handles 25% of European lit equity trading. Its products include equities, FX, ETFs, bonds, derivatives, commodities and indices.
In November 2025, Euronext successfully acquired a majority stake in the Athens Stock Exchange (ATHEX), further expanding its footprint and strengthening its pan-European market infrastructure.

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