Nasdaq has acquired Quandl, Inc., a leading provider of alternative and core financial data in order to combine Quandl with its existing Analytics Hub business within Global Information Services.
Quandl offers a global database of alternative, financial and public data, including information on capital markets, energy, shipping, healthcare, education, demography, economics and society. The alternative data and core financial data comes from over 350 sources and is distributed to more than 30,000 active monthly users.
Bjorn Sibbern, Executive Vice President and Head of Nasdaq’s Global Information Services, commented:
“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. 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.”
Tammer Kamel, Chief Executive Officer of Quandl, said:
“Investors today are demanding actionable intelligence from new and expansive data sources at an increasingly rapid rate. Joining with Nasdaq will enable us to serve investors with strengthened real-time capabilities and greatly enhanced data hygiene and symbology. 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.”
Quandl was founded in 2012 and has grown to be used by eight of the top 10 hedge funds and 14 of the top 15 largest banks. The company had entered strategic relationships with many leading data providers to provide institutional and Main Street investors with access to a growing library of data to inform research and trading decisions.
In November 2017, Deloitte estimated that spending on alternative data may exceed $7 billion USD by 2020, with an annual growth rate of 21 percent.
Nasdaq will be able to leverage Quandl to expand its own Analytics Hub business as part of its strategy to maximize opportunities as a technology and analytics provider to capital markets, as well as its capital deployment and return on investment capital objectives.