Alfred Eskandar, Portware
"We are thrilled to provide FactSet's clients with our multi-asset EMS that will deliver smart automation and streamlined workflows to address their global trading needs."
FactSet Research Systems, a provider of integrated financial information and analytical applications to the investment community, has announced that following regulatory approval, it has completed its acquisition of all the issued and outstanding membership interests of Portware. FactSet funded the acquisition by borrowing $265 million under its existing revolving credit facility today.
First announced on September 22, 2015, the transaction enables FactSet to support client workflows in additional segments of the investment process. Together, FactSet and Portware expect to provide the investment community with analytic and execution applications across more of the portfolio lifecycle, from analyst to portfolio manager to trader.
"We are excited to bring Portware into the FactSet family and we are confident that our clients will benefit from the proven innovation and talented leadership behind our combined efforts," said Phil Snow, CEO of FactSet.
Alfred Eskandar, CEO of Portware, added, "We are thrilled to provide FactSet's clients with our multi-asset EMS that will deliver smart automation and streamlined workflows to address their global trading needs."