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Quodd acquires Xignite

Source: Quodd

QUODD, a comprehensive market data-on-demand provider for the global financial services industry and a NewSpring Holdings platform company, has acquired Xignite, a leading global provider of financial market data APIs.

The combination brings together two dynamic, technology-led organizations that will enhance QUODD’s offerings, scale, and momentum, creating a preeminent market data solutions provider. The combined business will leverage its proprietary technology solutions to serve a blue-chip client roster of more than 2,200 companies, ranging from the largest banks and wealth management platforms to firms building disruptive products for the digital investor revolution.

The acquisition of Xignite bolsters two of QUODD’s signature products: QUODD Fuel and QUODD’s flagship digital platform, Universe+. QUODD Fuel, the firm’s suite of cloud-native market data solutions powered by proprietary technology that ingests, normalizes, and productizes market data content for easy consumption, will integrate Xignite’s content catalog, which includes data products curated from more than 150 sources with more than 500 API end points. In addition, Xignite’s expansive market data offering will further enhance QUODD’s flagship digital platform Universe+, which already offers clients a unique, streamlined experience that meets their needs across all segments of their business based on their specific end-user’s workflows, including all data types, asset classes, and global coverage.

“This acquisition reinforces our commitment to become the premier cloud-based global financial market data and content provider,” said Bob Ward, Chief Executive Officer of QUODD. “Xignite is well known for being an early adopter of delivering high-quality market data solutions via the cloud as well as for its extensive API-driven data catalog. I look forward to working with Stephane Dubois, CEO of Xignite, and his team to help us fuel our next chapter of growth delivering the most accessible and reliable data for our customers.”

“There is an ever-increasing demand from financial institutions for alternative cloud-based market data solutions able to power their wealth and asset management servicing platforms. QUODD and Xignite share a mutual vision to advance the industry with the most accurate, timely, and comprehensive content delivered via the most innovative, easy-to-use, and scalable delivery technologies,” said Stephane Dubois, CEO of Xignite. “Combining our two firms gives us the scale, ability to execute, and technology to deliver true alternative market data solutions to the industry. Our team looks forward to working with Bob and the team at QUODD to turbocharge QUODD Fuel and their digital platforms for the consumption of additional real-time, historical, reference, and fundamental data.”

“Our goal for the combined organization is to create the industry’s leading provider in centralized market data augmented with superior customer service, anchored in the strength of long-standing relationships and supported by leading technologies, which is why this transaction was a perfect fit,” said Jim Ashton, General Partner at NewSpring Holdings. “2022 was another year of strong organic growth for QUODD and, combined with Xignite, we are continuing to raise the bar in transforming the digital adoption of financial data for market participants.”

Financial terms of the transaction are not being disclosed. DC Advisory served as exclusive financial advisor to Xignite.

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