FactSet Sells Research Arms to Asset International
FactSet will use the $165 million sale to extend its share repurchase program by $165 million.
The deal, which also includes an additional earn-out of $10 million based on achieving growth targets over the next two years, is expected to close within 45 days.
Boston-based Market Metrics was founded in 1993, while Matrix Solutions was founded in London in 1985. FactSet plans to use the money to fund a $165 million expansion of its existing share repurchase program.
FactSet chief executive Phil Snow says the deal is "consistent with our long-term strategic direction," while Asset
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