Nasdaq Acquires Quandl - Alternative Data Provider

Nasdaq announced it has acquired Quandl, Inc., a provider of alternative and core financial data. 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 plans to combine Quandl with its existing Analytics Hub business within Global Information Services. Founded in Toronto in 2012, Quandl is used by eight of the top ten hedge funds and fourteen of the top fifteen largest banks. Quandl has also established strategic relationships with leading data providers to provide institutional and Main Street investors with access to a growing library of data. 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 USD by 2020, with an annual growth rate of 21 percent.  Terms of the deal were not disclosed.