FactSet Strengthens Portfolio with LiquidityBook Acquisition
Deal News | Feb 10, 2025 | Globenewswire
FactSet, a global provider of financial data, analytics, and enterprise solutions, announced the acquisition of LiquidityBook for $246.5 million in cash. The acquisition aims to integrate adjacent workflows across the front office to connect the full portfolio life cycle. LiquidityBook, founded in 2005 and headquartered in New York, offers cloud-native trading solutions for hedge funds, asset and wealth management, outsourced trading, and sell-side middle office clients. The acquisition is intended to enhance FactSet's offerings by integrating LiquidityBook’s order management system (OMS) and investment book of record (IBOR) capabilities into FactSet’s digital platform. This move aligns with FactSet’s strategy to provide a consolidated solution across the trade life cycle, allowing clients to focus on investment decisions rather than navigating multiple platforms. The acquisition closed on February 7, 2025, and is expected to be modestly dilutive to FactSet's 2025 fiscal results. The transaction was funded through FactSet's existing credit facility and advised by Citi and Cravath, Swaine & Moore for FactSet, and IA Global Capital and Curtis, Mallet-Prevost, Colt & Mosle for LiquidityBook.
Sectors
- Financial Services
- Technology
Geography
- United States – Both FactSet and LiquidityBook are headquartered in the U.S., and the acquisition is a U.S.-based transaction.
Industry
- Financial Services – The acquisition involves companies providing financial technology solutions, focusing on trading, portfolio management, and investment analytics.
- Technology – LiquidityBook offers cloud-native trading solutions and integrates technology-forward capabilities such as OMS and IBOR, making Technology a relevant industry classification.
Financials
- $246.5 million – Gross purchase price FactSet paid to acquire LiquidityBook.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| FactSet | Acquirer | Company | A global financial digital platform and enterprise solutions provider. |
| LiquidityBook | Target company | Company | A provider of cloud-native trading solutions for hedge funds, asset and wealth management. |
| Citi | Financial Advisor | Company | Acted as financial advisor to FactSet in the transaction. |
| Cravath, Swaine & Moore | Legal Advisor | Company | Provided legal advisory services to FactSet for the acquisition. |
| IA Global Capital | Financial Advisor | Company | Served as financial advisor to LiquidityBook. |
| Curtis, Mallet-Prevost, Colt & Mosle | Legal Advisor | Company | Provided legal services to LiquidityBook in the acquisition process. |