FactSet (FDS) Acquires idaciti, Inc.

FactSet (NYSE: FDS | NASDAQ: FDS), a global financial digital platform and enterprise solutions provider, announced the acquisition of idaciti, Inc. (“idaciti”), an innovator in data structuring and collection technology. This acquisition expands on FactSet’s multi-year investment program to digitally transform its content collection infrastructure. It also accelerates time-to-market for delivering critical data sets upon which next-generation workflows are built. The transaction closed on July 11, 2023 and is not expected to have a material impact on FactSet’s fiscal 2023 results.

“FactSet is committed to increasing not only the coverage and depth of our core proprietary content, but also the granularity of data collected, particularly across Deep Sector and sustainability, where we are seeing strong client demand and opportunity for differentiation,” said John Costigan, Executive Vice President and Chief Data Officer, FactSet. “We are excited to work with the idaciti team and will continue investing to scale FactSet’s content refinery to provide the most comprehensive and connected inventory of client, proprietary, and third-party content.”

Founded in 2015, idaciti applies a “taxonomy-first” approach to structuring information from company disclosures, regulatory filings, and proprietary document repositories. It has combined this expertise with machine learning-assisted technology to capture and standardize data at an exceptional level of granularity, quality, and speed. The platform uses a modern collection workflow for both structured and unstructured content to connect data discovery, normalization, and quality assurance in a single, iterative process.

“We are delighted to become a part of FactSet, given the strong cultural fit and shared purpose to unlock the power of data and insight,” said Emily Huang, Co-Founder and CEO, idaciti. “Combining with FactSet will amplify and scale the use of idaciti’s cutting-edge technology to help the investment community uncover new insights with increasing speed, accuracy, and efficiency.”

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