Market Overview

Nasdaq Acquires Data Provider Quandl

Nasdaq Acquires Data Provider Quandl

Nasdaq Inc (NASDAQ: NDAQ) announced the acquisition of a financial data company Tuesday. 

What Happened

Nasdaq said it bought Quandl, Inc., which provides alternative and core financial data. The The Toronto-based company offers alternative data to over 30,000 monthly users compiled from roughly 350 sources, per the companies' joint announcement.

The alternative data includes capital markets information, energy, shipping and health care.

“Quandl will allow Nasdaq to partner more closely with the investing community as the industry continuously seeks ways to evaluate an endless supply of information to drive new insights, investment ideas and deliver alpha,” Bjorn Sibbern, executive vice president and head of Nasdaq’s global information services, said in a statement.

“Quandl’s leadership, user community and team of data scientists, combined with Nasdaq’s alternative data group and global reach, will help our diverse client base derive a broad array of new investing opportunities.”

Why It’s Important

The joining of forces will allow for Quandl to better prepare investors with real-time news and enhanced symbology, according to the press release. Quandl is used by eight of the top 10 hedge funds, it said. 
“Our existing set of clients, including the world’s top hedge funds and investment banks, stand to benefit greatly from our mutual vision that data is going to become the primary driver of active investment performance over the next decade," said Quandl CEO Tammer Kamel.

What’s Next

The terms of the deal were not disclosed. Nasdaq said the M&A is consistent with its strategy of maximizing opportunities in its role as a tech and analytics provider to capital markets. 

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