FactSet Strengthens Global Wealth Management Offering, Agrees to Acquire Interactive Data Managed Solutions
27 January 2017 - 11:00PM
FactSet, a global provider of integrated financial information,
analytical applications, and industry-leading service, announced
that it has agreed to acquire Interactive Data Managed Solutions
(IDMS) from Intercontinental Exchange (NYSE:ICE) for cash
consideration. With more than 300 employees across 14 offices in
Europe and the United States, IDMS is a leading managed solutions
and portal provider for the global wealth management industry.
IDMS supports the wealth management marketplace across a variety
of workflows and functions, from advisors to their clients. IDMS
offers real-time market data desktops, customizable web-based
portals, and a broad range of mobile solutions. The transaction is
expected to close during FactSet’s third quarter of fiscal 2017 and
have an immaterial impact to diluted EPS. No regulatory approvals
are required.
“Wealth management is an area of strong, continued growth for
FactSet and the IDMS acquisition adds significant scale,” said Phil
Snow, Chief Executive Officer, FactSet. “With the IDMS business, we
establish ourselves as a leading end-to-end provider of solutions
for the wealth management industry. We see great potential in IDMS’
unique tools, which, when combined with FactSet’s rich content and
superior analytics, will help our clients capitalize on the
industry-wide shift to digital client engagement.”
Benjamin Jackson, Chief Commercial Officer, Intercontinental
Exchange said, “With its established business serving the wealth
management community, FactSet is well-positioned to expand with the
services that IDMS offers. And this transaction enables ICE Data
Services to focus on its core strengths in serving our
institutional customers across pricing, analytics and
connectivity.”
About FactSet
FactSet delivers the world's best insight and
information to investment professionals through superior analytics,
service, content, and technology. More than 66,000 users make
smarter investment decisions with FactSet's desktop analytics,
mobile applications, and comprehensive data feeds. FactSet is also
an honoree of Fortune's 100 Best Companies to Work For and a Best
Workplace Award recipient in the United Kingdom and France. FactSet
is listed on the New York Stock Exchange and NASDAQ (NYSE:FDS)
(NASDAQ:FDS).
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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