Vanda and Exante Data Merge to Build AI-Powered Macro Intelligence Firm

NEW YORK, NY – January 08, 2026 – In a significant move set to reshape the financial intelligence landscape, Vanda, a global leader in high-frequency positioning data, has completed its merger with Exante Data Inc., an innovative provider of data analytics and global macro strategy. The deal, which involves Vanda acquiring all outstanding stock of Exante Data, creates a formidable independent provider of data-driven insights for the world’s most sophisticated institutional investors.

The merger combines Vanda's expertise in tactical, short-horizon market flows with Exante Data's renowned structural macro analysis. Following the closing, Exante Data founder Jens Nordvig, a widely respected voice in macro strategy, will assume the role of President and join the Board of Directors of the combined company. While the financial terms of the transaction were not disclosed, the strategic intent is clear: to build a category-defining digital strategist powered by aggressive artificial intelligence integration, with a new platform, Vanda Analytics, slated for launch later this year.

A New Powerhouse in a Crowded Market

The financial data and analytics market, valued at over $12 billion in 2024 and projected to nearly triple by 2034, is dominated by behemoths like Bloomberg and Refinitiv. These giants offer comprehensive, all-in-one terminals that serve as the bedrock of the financial industry. However, this merger signals a potent strategic push within a growing niche of specialized, independent research firms that are increasingly valued for their depth and lack of conflicts of interest.

By uniting Vanda’s granular, high-frequency equity and FICC flow data with Exante Data’s top-down macro and capital flow analysis, the new entity carves out a unique position. It aims to become an “indispensable independent partner” by offering a holistic view that bridges the gap between short-term tactical positioning and long-term structural trends. This combined offering directly challenges the specialized research arms of larger competitors and other independent firms like BCA Research and Wolfe Research.

“We are excited to welcome Exante Data to Vanda and to collaborate with Jens, whose expertise has shaped one of the most respected macro intelligence firms in the industry,” said Angus Hume, Chief Executive Officer of Vanda. “Exante’s macro expertise and technology stack perfectly complements Vanda’s strengths. Together, we will provide unmatched cross-asset data and insight to the world’s leading institutions.” The combined client list already includes the world's largest investment banks, hedge funds, central banks, and sovereign wealth funds, creating significant opportunities for cross-selling and service integration.

The AI-Powered Future: Vanda Analytics

Central to the merger's strategy is the aggressive pursuit of artificial intelligence. The companies plan to leverage their combined datasets to roll out “bespoke agentic solutions” and launch a new flagship platform, Vanda Analytics. This move aligns with a broader industry shift where AI and machine learning are no longer buzzwords but essential tools for generating alpha and managing risk.

“Agentic AI” suggests a move beyond simple data dashboards toward autonomous systems that can proactively identify market anomalies, generate investment hypotheses, and deliver personalized insights tailored to a client’s specific portfolio or risk tolerance. For institutional investors drowning in data, such tools could act as powerful intelligent assistants, automating complex analysis and enhancing decision support. Jens Nordvig, who had already been exploring advanced AI applications at Exante, brings critical expertise to this initiative.

“The combined platform is uniquely placed to serve the world’s most sophisticated investors with independent macro strategy insights and data-driven perspectives, regardless of asset focus,” Nordvig stated. He added that the company will “deliver category defining AI powered technology solutions to the buy-side and sell-side.” The launch of Vanda Analytics later this year will be the first major test of this vision, promising a unified and advanced interface that could set a new standard for digital macro strategy.

Strategic Consolidation and Investor Backing

The merger is not merely a combination of capabilities but a calculated strategic play backed by private equity firm FPE Capital. FPE, which specializes in scaling software and services companies, views the acquisition as a critical step in Vanda’s growth trajectory. The move provides the critical mass needed to compete on a larger scale and invest heavily in next-generation technology.

Chris Kay, a Partner at FPE, commented, “Exante Data adds highly complementary proprietary datasets and macro capability, strengthening Vanda’s cross-asset platform today and accelerating the Vanda Analytics roadmap.” This backing underscores the private equity sector's strong interest in high-growth, scalable fintech firms that possess proprietary data and operate in markets undergoing structural change.

The appointment of Jens Nordvig as President is another key strategic element, ensuring that Exante's deep macro expertise is woven into the fabric of the combined company's leadership and product development. Mark Hepsworth, Chairman of Vanda, highlighted this synergy, noting, “Jens has built a market leader in data driven macro expertise and this aligns perfectly with Vanda’s breadth of coverage and expertise in positioning and flow data.” This leadership integration is crucial for a smooth fusion of company cultures and a unified go-to-market strategy.

In an increasingly interconnected global economy, the ability to analyze flows and macroeconomic trends across all major asset classes from a single, independent source is a powerful value proposition. The newly formed entity is betting that its unique combination of granular data, top-down strategy, and advanced AI will not only satisfy the current demands of institutional investors but also anticipate their future needs for smarter, more actionable intelligence.