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FactSet Acquires Matrix Data Limited

FactSet acquired Matrix Data Limited (“Matrix”) for $32 million during the second quarter of fiscal 2014.  

Headquartered in London, England, Matrix’s primary line of business 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.

Matrix employed 85 individuals in England and had annual subscriptions of $7.3 million.  Matrix reduced FactSet’s second quarter operating margin by 40 basis points and diluted earnings per share by $0.01. For the full year fiscal 2014, Matrix is not expected to have an impact on diluted earnings per share.

Source: FactSet Q2 Fiscal 2014 Report

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