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FactSet Research Systems Acquires Market Metrics, Broadens Range of Analytical Services
Wednesday, June 02, 2010
FactSet Research Systems Inc. (NYSE:FDS | NASDAQ:FDS), a leading provider of integrated financial information and analytical applications to the global investment community, today announced that it has acquired Market Metrics, Inc. (www.marketmetrics.com).
Headquartered in Quincy, Massachusetts, Market Metrics is the leading market research firm in the United States focused on advisor-sold investments and insurance products. Each year Market Metrics conducts more than 20,000 in-depth surveys of financial advisors, brokers, research analysts and gatekeepers. Leveraging this unique body of data, Market Metrics helps senior managers to understand better their competitive strengths and weaknesses, and how they can improve their relationships with customers and increase market share.
Market Metrics currently has annual subscriptions of $16 million and is supported by 25 employees. The acquisition of Market Metrics is not expected to have a material impact on FactSet's fiscal 2010 fourth quarter or fiscal 2011 diluted earnings per share.
"Market Metrics is an exceptional example of a company providing unique content to the investment management industry, helping senior executives make important business decisions,” said Philip Hadley, FactSet’s Chairman and Chief Executive Officer. “We expect to deepen our relationships with our common clients by providing them an even broader range of powerful content and analytical services.”
“All of us at Market Metrics are extremely grateful to our clients, whose loyalty has fueled thirteen consecutive years of revenue growth,” said Stephen DeLano, President of Market Metrics. “With FactSet and Market Metrics sharing many common clients already, the opportunity to provide complementary data offers great potential for our clients.”
About FactSet
FactSet (NYSE: FDS | NASDAQ: FDS) combines integrated financial information, analytical applications, and client service to enhance the workflow and productivity of the global investment community. The company, headquartered in Norwalk, Connecticut, was formed in 1978 and now conducts operations along with its affiliates from more than twenty-three locations worldwide, including Boston, New York, Chicago, San Mateo, London, Amsterdam, Frankfurt, Paris, Milan, Tokyo, Hong Kong, Mumbai, and Sydney.
About Market Metrics
Formed in 1993 as part of Monitor Group, a strategic consulting company, Market Metrics became an independent company in 1996 and has become the leading market research firm of its kind in the United States. Market Metrics uses its vast, proprietary database of customer surveys to provide senior managers with the data they need to make strategic decisions to increase market share of mutual funds, managed accounts, ETFs, annuities and life insurance.
