FactSet Agrees to Acquire Interactive Data Managed Solutions
- M&A Deals
- 27.01.2017 12:00 pm
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."