NDAQ » Topics » We could encounter difficulties in integrating Brut, our recent ECN acquisition, with the Nasdaq Market Center.

This excerpt taken from the NDAQ 10-K filed Mar 14, 2005.

We could encounter difficulties in integrating Brut, our recent ECN acquisition, with the Nasdaq Market Center.

 

On September 7, 2004, we acquired the Brut ECN. Brut’s integration with our existing business operations presents many challenges and has demanded significant attention of several key managers. The demands placed on the time of our management team in the Brut integration may adversely affect the operation of our existing businesses. The integration could take longer than planned and be subject to unanticipated difficulties and expenses.

 

Key risks involve:

 

    failure to execute as well or as quickly as anticipated on our integration plans, including the integration of the acquired employees, operations, technologies and products with our existing business and products;

 

    retention of business relationships with suppliers and customers of Brut;

 

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    loss of key Brut personnel;

 

    the diversion of our management during the integration process; and

 

    resistance to cultural changes in the acquired organization.

 

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