FactSet in $205m deal with buy-side trading software firm

BSIAM Technologies provides software to buy-side for evaluating investment strategies.

Information and analytics provider FactSet has acquired performance and buy-side software firm BISAM Technologies for $205 million.

BISAM Technologies - formerly owned by Aquiline Capital Partners - provides multi-asset, risk and portfolio management technology to large asset managers, which has been integrated with FactSet’s analytics and reporting tools.

“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 at FactSet.

He added: “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 organisations.”

FactSet has worked with major institutions in the past, most recently it worked with Bats Europe to launch two new indices to provide insight into the impacts of Brexit.

Christophe Volard, global head of product development, performance and attrition at BISAM, described the deal as “an exciting opportunity to create scale and bring our industry-leading performance and risk systems to a broader market.”