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Markets

Nasdaq acquires alts data provider Quandl

Nasdaq announced Tuesday it acquired alternative financial data provider Quandl.

Terms were not disclosed.

Quandl is a Toronto-based provider to hedge funds and banks with a global database of alternative, financial and public data on capital markets and other categories.

The firm will be part of Nasdaq Global Information Services' analytics hub business, launched in May 2017.

Quandl will retain its brand name and leadership, including CEO Tammer Kamel, a Nasdaq spokesman said.

The acquisition is the latest for Nasdaq, which has been expanding its technology and analytics business. It acquired money management analytics firm eVestment for a combined $705 million in cash and stock in late 2017.