QUODD has agreed to acquire fellow market data company Xignite. Together, the companies will serve more than 2,200 companies, ranging from large banks and wealth management platforms to small digital investment tools. Financial terms of the deal were not disclosed.
Two market data companies are merging this week as QUODD Financial Information Services acquires Xignite. Financial terms of the deal were not disclosed.
QUODD said the acquisition strengthens its commitment to becoming a “leading provider of cloud-based global financial market data and content.” Bob Ward, CEO of the company, added: “Xignite is well known for being an early adopter of high-quality market data solutions via the cloud and for our extensive API-driven data catalog. We look forward to working together to drive our next chapter of growth by providing our customers with the most accessible and reliable data.”
Together, Xignite and QUODD will serve more than 2,200 companies, ranging from large banks and wealth management platforms to small digital investment tools. QUODD leverages Xignite’s technology to power QUODD Fuel and integrate Xignite’s content catalog. Universe+ leverages market data from Xignite.
QUODD’s technology allows clients to stream, embed, search and download price data for the last prices of global stocks, bonds, indices, options, futures, and global mutual funds. The company is owned by Financeware, a division of NewSpring Holdings, a provider of probability analysis technology and marketing strategies, which acquired QUODD in 2019 for an undisclosed amount.
NewSpring Holdings has high ambitions in acquiring Xignite. “Our goals for the combined organization are to enhance superior customer service, build an industry-leading provider of centralized market data backed by the strength of long-term relationships, and supported by cutting-edge technology. That’s why this transaction was a perfect fit,” said Jim Ashton, General Partner of NewSpring Holdings. “2022 was another year of strong organic growth for QUODD. Together with Xignite, we continue to raise the bar in transforming the digital adoption of financial data for market participants.”
Founded in 2000, Xignite provides market data APIs to brokerage, asset management, and fintech customers. The company’s API provides a variety of market data, including real-time stock prices, historical stock prices, option prices, futures prices, mutual fund prices, ETF prices, foreign exchange rates, bond prices, and more. In total, the company’s customers use Xignite’s API more than 500 million times each month.
Photo credit: Pixabay
Number of views: 148
