Quodd, a market data provider for the global financial services industry and a NewSpring Holdings company, has purchased Xignite, a financial market data application programming interface (API) company.

The combination looks to improve Quodd’s offerings, scale and momentum as a market data services provider. The combined business will use its technology services to serve a blue-chip client base of more than 2,200 companies, ranging from banks and wealth management platforms to firms building products for digital investors.

“Combining our two firms gives us the scale, ability to execute and technology to deliver true alternative market data solutions to the industry,” comments Stephane Dubois, CEO of Xignite.

DC Advisory served as financial advisor to Xignite.