FiscalNote to Acquire Korean Alternative Data Firm Aicel Technologies.

MANews-(C)2009-2022

US-based enterprise SaaS company FiscalNote has entered into a definitive agreement to acquire Seoul, Korea-based alternative data company Aicel Technologies, the company said.

Aicel Technologies provides unique alpha-capturing dataset solutions and extracts value and actionable insights to drive business solutions for emerging fintech markets around the world.

With this latest acquisition, FiscalNote achieves its FY2021 M and A target goal and remains on track for run-rate revenues in-line with its publicly provided guidance.

The deal is expected to close in 1Q22, pending regulatory review and customary closing conditions.

Founded in 2016 and led by CEO Min Kim, Aicel processes both proprietary and licensed data, such as trade and export information, patent filings, aggregated consumer and retail transactions, food delivery and home-sharing data, e-commerce sales information, and ESG metrics on a subscription basis for customers - such as asset management companies, multinational corporations, hedge funds, investment firms, and corporations, amongst others.

Aicel leverages advanced technology to collect, refine, process, and deliver tailored data to customers, while powering a data exchange marketplace through its Data-as-a-Service model to enable third-party data providers and vendors to rapidly partner with Aicel to market new datasets quickly and efficiently.

Alternative data for financial institutions continues to be an attractive and fast-growing international market.

By acquiring Aicel, FiscalNote said it will gain access to a deeper customer base in an expanding and...

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