This week, Nasdaq Inc NDAQ 1.55% announced the acquisition of options giant ISE from Deutsche Boerse for $1.1 billion. In a new report, Credit Suisse analyst Ashley Serro gives the firm’s take on Nasdaq’s recent buyouts of ISE, Chi-X Canada and Marketwired.

According to Serro, the ISE deal is a wise use of Nasdaq’s cash.

“At current valuations, we believe that this deal is better than buying back stock or acquiring expensive index/business service properties and also comes at a reasonable multiple without drastically altering the non-transaction revenue mix,” Serro explained.

Credit Suisse estimates that ISE and the smaller acquisitions will provide about a $0.31/share (or 9.0 percent) boost to Nasdaq’s EPS.

Although ISE has a tumultuous past, Serro noted…

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