Data and analytics provider FactSet has purchased BISAM Technologies for $205.2 million from Aquiline Capital Partners and company insiders. BISAM, which has more than 160 employees globally, specializes in portfolio performance and attribution platforms, most notably its B-One cross-asset solution and Cognity product.
“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,” said Phil Snow, CEO of FactSet, in a statement. “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.”
FactSet borrowed $575 million to pay for the deal and repay existing debt. FactSet and BISAM declined to talk to WatersTechnology about the deal as the former is currently in a quiet period leading up to its earnings announcement on March 28.
“Joining FactSet provides BISAM with an exciting opportunity to create scale and bring our industry-leading performance and risk systems to a broader market,” said Christophe Volard, global head of product development, performance and attribution and co-founder of BISAM, in a statement. “Together, we expect to offer significant advantages to our mutual and respective clients, while creating a collaborative, global environment for our employees.”
Both firms are no stranger to WatersTechnology’s various winners’ circles. At last year’s Waters Rankings, BISAM was named best performance measurement and attribution system while FactSet was named best data analytics provider. BISAM also received best buy-side performance measurement and attribution product and best buy-side risk management initiative over the last 12 months at the 2016 Buy-Side Technology Awards. BISAM also received a service to the industry awards at the same event for its consistency over the last 10 years at the BST Awards.
Anthony and James look at developments pertaining to the Consolidated Audit Trail and wonder if big-tech companies could challenge traditional asset managers.Subscribe to Weekly Wrap emails
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