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Nasdaq Acquires Quandi; Terms Not Disclosed - Quick Facts

Nasdaq Inc. (NDAQ) said Tuesday that it has acquired Quandl, Inc., a Toronto-based provider of alternative and core financial data.

Nasdaq did not disclose terms of the deal, but noted that the investment is consistent with 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.

Quandl provides alternative data and core financial data from over 350 sources to more than 30,000 active monthly users. The company offers a global database of alternative, financial and public data, including information on capital markets, energy, shipping, healthcare, education, demography, economics and society.

Nasdaq said it plans to combine Quandl with its existing Analytics Hub business within Global Information Services.

"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," said Bjorn Sibbern, Executive Vice President and Head of Nasdaq's Global Information Services.

Founded in 2012, Quandl is used by eight of the top 10 hedge funds and 14 of the top 15 largest banks.

Quandl has also established strategic relationships with many data providers to provide institutional and Main Street investors with access to a growing library of data to inform research and trading / investing decisions.

In assessing the overall market opportunity for alternative data across the financial industry, in November 2017, Deloitte estimated that spending on alternative data may exceed $7 billion by 2020, with an annual growth rate of 21 percent.

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