FiscalNote, an AI-driven enterprise SaaS company delivering legal and regulatory data, has acquired Aicel Technologies, a South Korea-based alternative data company providing alpha-capturing dataset services.
Aicel processes proprietary and licensed data like trade and export information, patent filings, aggregated consumer and retail transactions, e-commerce sales information and more. The firm delivers its services to asset managers, multinationals, hedge funds, and investment firms. The firm leverages its technology to deliver data and additionally power a data exchange marketplace through its data-as-a-service model.
The deal will expand FiscalNote’s customer base and its existing fintech and financial services data services. The firm will now have global coverage for organizations in need of deep data insights.
“We’re excited about bringing Aicel into FiscalNote because, much like us, technology has always been core to Aicel’s DNA,” said FiscalNote co-founder and CEO, Tim Hwang. “We look forward to collaborating with Aicel’s team to further penetrate the alternative data and fintech industries, while continuing to develop capabilities to serve the regulated sectors of the future, such as ride sharing, the gig economy, e-Commerce, food delivery, and more.”