Washington, D.C.-based FrontierView will complement, enhance and expand FiscalNote’s existing world-class geopolitical intelligence capabilities on a global scale
FiscalNote, a leading technology provider of global policy and market intelligence, announces its acquisition of FrontierView (“Frontier Strategy Group, LLC”), a fast-growing Washington, D.C.-based technology company that empowers over 4,000 business professionals at more than 250 global companies with world class strategic market intelligence including award-winning research, economic and industry data, a senior executive network, and analyst advisory services through data, insights, and analytical tools to power business decisions.
Originally founded in 2008 as Frontier Strategy Group, FrontierView will continue to be led by Chief Executive Officer, Richard Leggett, and its current management team. It serves the worldʼs largest corporations including Adidas, Cisco, Clorox, Medtronic, Nike, and Sanofi among others, and partners with organizations such as The Wall Street Journal. From its offices in Washington, D.C., London and Singapore, FrontierView provides a unique brand of strategic market intelligence through a proprietary cloud-based SaaS platform. The company covers more than 200 markets globally, specializing in macroeconomics, geopolitics, state policy, regional politics, healthcare, and business strategy.
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“FrontierView sits at the intersection of diversification and market development within FiscalNote’s overall corporate strategy,” said FiscalNote co-founder and CEO, Tim Hwang. “By further expanding our international coverage and enhancing our holistic content offerings, FrontierView aligns with our proven corporate pathway of rapid and durable growth through organic initiatives and opportunistic acquisitions.”
With robust research capabilities, expanded global reach, and a strong base of highly recurring revenue, FrontierView will complement, reinforce, and enhance FiscalNote’s existing world-class political intelligence capabilities, while fully leveraging the company’s diversified portfolio within the global risk, ESG, and geopolitical advisory product suite. In addition, the complementary nature of this acquisition will provide quick-to-market cross-selling and upselling opportunities to customers across each company’s respective client bases, as well as across key market segments and in new regional markets around the world. As evidence of its broad global reach, a vast majority of both FrontierView’s client base, research coverage, and geographic revenue are derived from outside the U.S.
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“At FrontierView, we have been on a relentless mission to provide the world’s best market intelligence and advisory services for global business professionals,” said FrontierView CEO, Richard Leggett. “We are inspired by FiscalNote’s vision and could not be more excited to join the FiscalNote family. Through this combination, we see an opportunity to accelerate our strategic vision in an effort to better serve a broader set of our clients’ market intelligence needs.”
The acquisition was completed at multiples in line with previous transactions of similar scale and is expected to be value accretive in 2021 and beyond for shareholders. With a strong base of highly recurring revenue, the growth of FrontierView’s subscription business is expected to accelerate with access to larger capital resources and deeper sales force capabilities.
“We are continuing to execute against the business plan and are immediately seeing the benefits we outlined as part of our announcement to bring the company public,” noted Hwang. “FiscalNote remains on track to exit 2021 at a revenue run-rate in line with the projections and M&A goals set out in our business combination with Duddell Street.”
On November 8, 2021, FiscalNote and Duddell Street Acquisition Corp. (Nasdaq: DSAC), a publicly traded special purpose acquisition company, announced they have entered into a definitive business combination agreement that, upon closing (which is subject to regulatory review and customary closing conditions), will result in FiscalNote becoming a publicly listed company with a pro forma market capitalization of approximately $1.3 billion. Upon closing, the combined company will operate under the FiscalNote name and trade on the Nasdaq under the ticker symbol “NOTE”.
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