DC’s FiscalNote Expands “Alternative Data” Business with Latest Acquisition


DC-based FiscalNote continues to expand its data-driven information business with plans to acquire South Korean software maker Aicel Technologies for an undisclosed amount.

DC-based FiscalNote continues to expand its data-driven information business with plans to acquire South Korean software maker Aicel Technologies for an undisclosed amount.

Aicel is an alternative data company for emerging fintech markets, which means it assesses company profiles based on more than traditionally available company data. His knowledge is focused on emerging fintech markets globally.



Clients of its data analytics include hedge funds, investment firms, and asset management firms.

FiscalNote, whose acquisitions include $ 180 million for CQ Roll Call in 2018, expects to complete this ongoing acquisition in the first quarter of 2022.

Aicel, founded in 2016, has doubled its revenue over the past year, capitalizing on the growing demand for alternative data by financial institutions. Its acquisition will expand FiscalNote’s existing business into alternative data sources.

FiscalNote, largely a legal and regulatory software tracking company, to become a publicly traded company in the first quarter of 2022, with an initial public offering through a special purpose acquisition company merger (SPAC). He will value the company at $ 1.3 billion.

FiscalNote backers include AOL co-founder Steve Case, Yahoo! co-founder Jerry Yang, billionaire Mark Cuban and Winklevoss Capital.

The public offering will make FiscalNote co-founder and CEO Tim Hwang, 29, the youngest Asian-American founder and CEO of a major US stock exchange. It will be traded on the Nasdaq under the ticker symbol “NOTE”.

FiscalNote was founded in 2013. It uses AI and machine learning to collect and analyze legislative, regulatory and geopolitical data for clients.

The acquisition of CQ Roll Call gained access to its subscription services for information, data and analysis on Congress and the law.

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