Securities Market Data-as-a-Service sector
Strategic acquirers, private equity (buyout funds and growth funds) firms, and valuation benchmarks for Securities Market Data-as-a-Service
1.1 - About Securities Market Data-as-a-Service sector
Companies in the Securities Market Data-as-a-Service category provide cloud-delivered, normalized market data for equities, fixed income, derivatives, FX, and digital assets. They supply real-time tick streams, historical time series, reference and corporate actions, and venue analytics through APIs and managed data shares. Customers use these datasets to power trading, research, risk, and compliance workflows while reducing data engineering overhead, integration complexity, and data procurement risk.
Vendors offer streaming tick and depth-of-book feeds, consolidated price quotes and VWAPs, historical TAQ datasets for backtesting, comprehensive reference data, corporate actions, and symbology mapping, as well as transaction cost analysis and liquidity metrics. Delivery typically includes REST and WebSocket APIs, cloud data shares on major platforms, intraday snapshots and end-of-day files, plus entitlements management, data catalogs, schema versioning, and compliance-ready audit trails.
Primary customers include asset managers and hedge funds, broker-dealers and market makers, and fintech trading platforms. These services enable faster strategy deployment, improved execution quality and liquidity monitoring, higher-fidelity backtesting and risk modeling, and streamlined regulatory reporting. By centralizing market data acquisition and normalization, buyers reduce integration effort, lower total data costs, and increase reliability across research, portfolio management, and compliance workflows.
2. Buyers in the Securities Market Data-as-a-Service sector
2.1 Top strategic acquirers of Securities Market Data-as-a-Service companies
Seeking Alpha
HQ: United States
Website
- Description: Provider of crowdsourced financial research and stock analysis services, delivering 250 actionable research reports daily from a broad analyst network, supplying real-time email alerts on breaking news, and publishing about 5,000 quarterly earnings call transcripts that cover more than 10,000 publicly traded companies.
- Key Products:
- Subscription Investing Research Platform: Delivers crowd-sourced independent investing ideas, analysis and tools via paid subscriptions, enabling investors to make profitable decisions based on diverse viewpoints
- Editorial Quality Control Service: Employs professional editors who verify evidence, reject rumors and limit hyperbolic language, ensuring articles contain accurate, actionable stock information
- Community Feedback & Rating System: Provides article comments, subscriber convincingness ratings and formal dispute channels to challenge authors and correct inaccuracies, reducing risk from misleading content
- Compliance & Contributor Verification Program: Authenticates legal identities, restricts each pseudonymous analyst to one alias and collaborates with the SEC, deterring bad actors and enhancing trust in published research.
- Company type: Private company
- Employees: ●●●●●
- Total funding raised: $●●●m
- Backers: ●●●●●●●●●●
- Acquisitions: ●●
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2.2 - Strategic buyer groups for Securities Market Data-as-a-Service sector
M&A buyer group 1: Online Financial Databases
26 companies
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Description: Companies in the Investment Market Data Platforms category deliver cloud-based online financial databases that aggregate real-time and historical pricing, fundamentals, corporate actions, and regulatory filings. They centralize validated market data across asset classes and geographies, enabling institutional users to accelerate research, valuation, and portfolio workflows with accurate, timely information and standardized reference data delivered via web applications, APIs, and office integrations.
Morningstar
- Type: N/A
- Employees: ●●●●●
- Description: Provider of investment research and data services, delivering insights on managed investment products, market and equity data, private capital markets and real-time global market data, alongside investment management, advisory, advertising, equity research and asset management services for individual investors, financial advisors, asset managers, retirement plan sponsors and institutional investors.
- Key Products:
- Managed Portfolios: Suite of 100+ multi-manager portfolios covering asset allocation, outcome-based and select equity strategies, professionally managed to let advisors outsource portfolio construction and scale client solutions
- ByAllAccounts Data Aggregation: Aggregates and enriches held-away account data with Morningstar insights, giving wealth firms holistic book-of-business views, portfolio analytics and data enrichment for other wealthtech platforms
- Morningstar Office RIA Platform: Fully integrated practice and portfolio management system combining analytics, data, portfolio construction, research and administrative support so registered advisers can run their entire practice in one place
- Market Insights: Delivers actionable macroeconomic commentary, investment strategy analysis and practice-management trend research that advisors and wealthtech providers use to inform portfolio decisions and business growth.
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Buyer group 3: ████████ ████████
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3. Investors and private equity firms in Securities Market Data-as-a-Service sector
3.1 - Buyout funds in the Securities Market Data-as-a-Service sector
2.2 - Strategic buyer groups for Securities Market Data-as-a-Service sector
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4 - Top valuation comps for Securities Market Data-as-a-Service companies
4.2 - Public trading comparable groups for Securities Market Data-as-a-Service sector
Valuation benchmark group 1: Financial Data and Analytics Providers
13 companies
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Description: Companies in this public trading comparables group are providers of financial information, ratings, identity data, and analytics delivered via subscription platforms and data licensing. Their business models center on recurring revenue from market data feeds, credit scoring, benchmarks, and workflow software. They are grouped together because they monetize proprietary datasets and analytics at scale, serving as valuation benchmarks for data-centric, high-margin information services.
S&P Global
- Enterprise value: $●●●m
- Market Cap: $●●●m
- EV/Revenue: ●.●x
- EV/EBITDA: ●●.●x
- Description: Provider of credit ratings, benchmarks, analytics, and workflow solutions across the global capital, commodity, and automotive markets, delivering essential intelligence to help clients navigate economic landscapes and make informed decisions.
- Key Products:
- Credit Ratings: Independent provider of credit ratings, research, and analytics for market participants
- Benchmarking Solutions: Market benchmarks and indices including the S&P 500
- Workflow Solutions: Platforms integrating data, analytics, and research into business workflows
- Commodity Insights: Data and analytics for commodity markets
- ESG Scores: Environmental, Social, and Governance metrics for investment analysis.
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Revenue growth
Median
15.7%
2025E
16.0%
2026E
EBITDA margin
Median
28.2%
2025E
28.6%
2026E
Cash EBITDA margin
Median
27.6%
2025E
28.0%
2026E
EV/Revenue
Median
8.4x
2025E
6.8x
2026E
EV/EBITDA
Median
28.9x
2025E
24.4x
2026E
EV/Cash EBITDA
Median
29.0x
2025E
25.5x
2026E
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