Vanda and Exante Data announced they have entered into and completed a definitive merger agreement in which Vanda will acquire all outstanding capital stock of Exante Data, bringing the macro strategy and capital-flow analytics provider into the Vanda platform. Financial terms were not disclosed.
Following the closing, Exante founder Jens Nordvig will become President of the combined company and join its Board of Directors. The firms said the combination unites Vanda’s high-frequency positioning and tactical macro insights with Exante Data’s macro strategy and capital flow analysis, aiming to offer institutional investors a broader set of cross-asset datasets, research, and analytical tools spanning both fixed income, currencies and commodities (FICC) and equities.
The companies said the deal is intended to deepen capabilities in both tactical and structural flow and positioning analysis, while creating scale benefits across sales, marketing, product engineering, operations, and management. The combined business also plans to accelerate the use of AI and develop bespoke agentic solutions driven by client demand. Vanda said the merger supports its plan to launch “Vanda Analytics,” described as a digital macro strategist, later in 2026.
Vanda said it serves investment banks, hedge funds, central banks, sovereign wealth funds, and other global asset managers with tactical positioning and flow data, while Exante Data said it provides macro strategy and flow analytics used in institutional investors’ alpha generation and risk management workflows.
Support: Vanda was advised by BDO (financial and tax), Stephenson Harwood (legal), Troutman Pepper (U.S. legal), and Plural Strategy (commercial). Financing was provided by FPE and Santander. Exante Data said it was advised by Vedder Price P.C. and SHEUMACK GMA.
KEY QUOTES:
“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. This is a major step toward building Vanda Analytics the category-defining digital macro strategist which we will launch later this year. 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.”
Angus Hume, Chief Executive Officer, Vanda
“I am excited to see Vanda and Exante join forces during this period of dramatic macroeconomic change. 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. Further, the combined company will deliver category defining AI powered technology solutions to the buy-side and sell-side. Angus and I share so many views and perspectives. I look forward to partnering with Angus and the rest of the management team to accelerate the growth of our combined company and to deliver winning solutions to our growing global network of clients. In an increasingly convergent and interconnected global economy, in-depth coverage of all major asset classes is key to a complete understanding of the big picture.”
Jens Nordvig, President, Combined Company; Board Member
“I am delighted to see Exante Data combine with Vanda and to welcome Jens Nordvig to our Board of Directors. This combination will offer clients access to a wide range of proprietary data, analytics and data driven market insights covering both macro and tactical themes and across global equities and FICC. 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 and tactical analytics and insights.”
Mark Hepsworth, Chairman, Vanda
“We’re thrilled to support Vanda in this next strategic step. Exante Data adds highly complementary proprietary datasets and macro capability, strengthening Vanda’s cross-asset platform today and accelerating the Vanda Analytics roadmap. Together, the group is well positioned to deliver deeper insight to institutional clients globally and sustain strong growth in a rapidly evolving market.”
Chris Kay, Partner, FPE
