DSAC - FiscalNote to acquire South Korea-based data company Aicel Technologies

FiscalNote, which is going public via an SPAC deal, is acquiring Aicel Technologies, a Seoul, South Korea-based alternative data company. Terms of the transaction were not disclosed. FiscalNote said that with the acquisition it achieves its FY2021 M&A goal and remains on track for run-rate revenues in-line with its publicly provided guidance. The deal is expected to close in Q1 2022, subject to regulatory review and closing conditions. Founded in 2016 and led by CEO Min Kim, Aicel processes proprietary and licensed data, such as trade and export information, patent filings, aggregated consumer and retail transactions, food delivery and home-sharing data, e-Commerce sales information, and ESG metrics on a subscription basis for customers. Kim will continue to lead the division following closing of the deal. FiscalNote Co-Founder and CEO Tim Hwang said, "We look forward to collaborating with Aicel's team to further penetrate the alternative data and fintech industries, while continuing to

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FiscalNote to acquire South Korea-based data company Aicel Technologies