FactSet Acquires BISAM, Leading Performance Measurement Provider and Risk Management Thought Leader
March 20 2017 - 7:00AM
FactSet (NYSE:FDS) (NASDAQ:FDS), a global provider of integrated
financial information, analytical applications, and
industry-leading service, announced that it has acquired BISAM
Technologies S.A. for $205.2 million from Aquiline Capital Partners
and company insiders. With more than 160 employees worldwide, BISAM
is a leading provider of portfolio performance and attribution,
multi-asset risk, GIPS composites management and reporting.
Many of the world's largest asset managers use BISAM’s software
to evaluate and enhance their investment strategies and better
serve their clients. B-One, BISAM’s award-winning, market-leading
cross-asset solution, has emerged as the leading software solution
for performance measurement and is an outstanding complement to
both FactSet’s portfolio analytics suite and client reporting
solutions. Simultaneously, its Cognity product (originally owned by
FinAnalytica) enhances FactSet’s risk analysis for derivatives and
quantitative portfolio construction.
“As investment processes and asset types become more complex,
the financial community is seeking increased insight and
transparency on performance and risk across their enterprises,”
explained Phil Snow, Chief Executive Officer, FactSet. “Over the
past 20 years, we have continuously invested to evolve our
analytics solutions through innovation, acquisition, and strategic
relationships. The combination of BISAM and FactSet allows us to
better serve the critical workflows throughout the portfolio
lifecycle and fulfill our clients’ need for more consistent
performance and risk data, throughout their organizations.”
Christophe Volard, Global Head of Product Development,
Performance & Attribution, and a co-founder of BISAM said,
“Joining FactSet provides BISAM with an exciting opportunity to
create scale and bring our industry-leading performance and risk
systems to a broader market. Together, we expect to offer
significant advantages to our mutual and respective clients, while
creating a collaborative, global environment for our
employees.”
FactSet borrowed $575 million under a new revolving credit
facility to fund the transaction and repay existing
debt. BISAM’s annual revenues as of December 31, 2016 were
over $28 million. The transaction is expected to be accretive by
$0.02 to adjusted diluted EPS and dilutive by $0.06 to GAAP diluted
EPS for the remainder of fiscal 2017. The Company is currently in a
quiet period and plans to discuss this transaction on its upcoming
earnings call on March 28 at 11 a.m. Eastern Time.
For more information on FactSet’s extensive analytics suite,
visit http://www.factset.com/analytics.
About FactSet
FactSet (NYSE:FDS) (NASDAQ:FDS) delivers superior analytics,
service, content, and technology to help more than 66,000 users see
and seize opportunity sooner. We are committed to giving investment
professionals the edge to outperform, with fresh perspectives,
informed insights, and the industry-leading support of our
dedicated specialists. We're proud to have been recognized with
multiple awards for our analytical and data-driven solutions and
repeatedly ranked as one of Fortune's 100 Best Companies to Work
For and a Best Workplace in the United Kingdom and France.
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FactSet
Media Relations Contact:
Amy Bowman
203.810.2144
Abowman@factset.com
Investor Relations Contact:
Rima Hyder
857.265.7523
Rima.hyder@factset.com
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