FactSet Research Systems Inc.
) recently announced its acquisition of Revere Data, LLC.
Financial details of the deal were not disclosed.
The acquisition will help FactSet to deliver innovative products
to its clients and evolve as a global financial database company.
It will also help FactSet to maximize value for its partners and
provide customers with exclusive content sets.
Revere Data, LLC is the leading provider of industry
classification and supply chain data, analytics, and indexes for
the financial services industry. Revere also offers a supply
chain relationships database that helps investors to identify
portfolio risk. Its offerings simplify the management of a large
volume of information and streamline the business process.
FactSet reported total revenue of $214.6 million in the third
quarter of 2013, up 6.0% from $202.3 million in the year-ago
quarter. Organically, revenues increased 5%, while StreetAccount
contributed 1% to total revenue growth.
FactSet is one of the leading providers of online integrated
data-related products and services for the investment community
(primarily bankers, investment managers and brokerage firms). It
continues to launch new products and applications across its
segments with special emphasis on financial services to gain more
The company is offering new products and services on a regular
basis. However, adding new customers is still a challenge due to
the sluggish European market.
We expect competition to intensify further in the future. Some
competitors such as Bloomberg L.P., Dow Jones & Company Inc.
) are also coming up with substitute products at competitive
FactSet carries a Zacks Rank #3 (Hold). Investors can consider
other stocks in the technology space such as,
) carrying a Zacks Rank #1 (Strong Buy) and
Broadridge Financial Solutions, Inc.
) carrying a Zacks Rank #2 (Buy).
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