M&A Deal Summary

FactSet Research Acquires Portware

On September 22, 2015, FactSet Research acquired financial services company Portware from Long Ridge Equity Partners for 265M USD

Acquisition Highlights
  • This is FactSet Research’s 1st transaction in the Financial Services sector.
  • This is FactSet Research’s 2nd largest (disclosed) transaction.
  • This is FactSet Research’s 10th transaction in the United States.
  • This is FactSet Research’s 4th transaction in New York.

M&A Deal Summary
Date 2015-09-22
Target Portware
Sector Financial Services
Buyer(s) FactSet Research
Sellers(s) Long Ridge Equity Partners
Deal Type Add-on Acquisition
Deal Value 265M USD

Target

Portware

New York, New York, United States
website
Portware, LLC is a developer of broker-neutral, automated trading solutions for global equities, futures, options and FX. With offices in New York, London, Hong Kong, and Hyderabad, Portware works in partnership with its clients to create highly integrated solutions to streamline workflow and increase operational efficiencies on trading desks worldwide. Portware's flagship product, Portware Enterprise, is a fully customizable trade management and execution system for single stock, portfolio, basket, automated and algorithmic trading.

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Buyer(S) 1

Buyer

FactSet Research

Norwalk, Connecticut, United States

website

Category Company
Founded 1978
Sector Information Services
Employees11,627
Revenue 1.8B USD (2022)
DESCRIPTION
FactSet's corporate headquarters in Norwalk, Connecticut.
FactSet's corporate headquarters in Norwalk, Connecticut.

FactSet Research is a global provider of financial information and analytics. Users can access company and industry intelligence as well as monitor performance with desktop analytics, mobile applications, and data feeds. FactSet Research was incorporated in 1978 and is based in Norwalk, Connecticut.

DEAL STATS #
Overall 14 of 22
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 11 of 17
State (New York) 4 of 6
Country (United States) 10 of 15
Year (2015) 2 of 2
Size (of disclosed) 2 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-09 Code Red

New York, New York, United States

Code Red provides research management technologies to the investment community, including endowments and foundations, institutional asset managers, sovereign wealth funds, pensions, and hedge funds.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-23 Matrix Data

London, United Kingdom

Matrix Data Ltd. (Matrix Solutions) is a provider of intelligence to the UK financial services industry, covering market share of mutual fund distribution. Matrix has developed customer, channel and market benchmarking solutions that help clients optimize product distribution and improve marketing effectiveness to drive revenue growth.

Sell -

Seller(S) 1

SELLER

Long Ridge Equity Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 2007
PE ASSETS 900M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Long Ridge Equity Partners is a private investment firm focused on the financial services sector. The Firm seeks growth capital and special situation investments. Specific areas of interest include financial technology, specialty finance, securities and trading, asset management, payments, and exchanges. Long Ridge was formed in 2007 and is based in New York City.

DEAL STATS #
Overall 1 of 8
Sector (Financial Services) 1 of 4
Type (Add-on Acquisition) 1 of 4
State (New York) 1 of 3
Country (United States) 1 of 8
Year (2015) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-01 TradAir

Tel Aviv, Israel

TradAir provides an institutional FX trading platform to banks and brokers. TradAir’s platform allows market participants to aggregate liquidity, create two-way pricing streams, and distribute the pricing through a front-end GUI. TradAir is based in Tel Aviv, Israel.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-16 EQIS Capital Management

San Rafael, California, United States

EQIS Capital Management is a fee-based turnkey asset management platform (TAMP) serving financial advisors by providing investors access to many of the investment strategies historically available only to high net worth individuals and institutions. EQIS Capital Management was founded in 2007 and is based in San Rafael, California.

Buy -
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