FactSet Acquires Vermilion Software for $67m, Sees Strong Quarterly Earnings

FactSet Research Systems Inc. (NYSE:FDS) (NASDAQ:FDS), a provider of integrated financial information, has bought Vermilion Software Limited for a sum of $67.0 million, part of its latest string of acquisitions, per a company filing.

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FactSet has been active in the mergers and acquisitions (M&A) realm, which has made a splash after buying Vermilion and CYMBA Technologies Limited for $67.0 million and $8.0 million respectively. Its more paramount buyout, Vermilion represents the integration of the group’s solutions services.

Vermilion is a global provider of client reporting and communications software and services for the financial asset management industry. CYMBA is a supplier of business solutions for asset managers – both acquisitions were funded with cash.

The recent M&A activity follows after a successful quarter for FactSet, which saw its Q1 earnings for the 2017 fiscal year secure revenues growth of $288.1 million. For the quarter ending November 30, 2016, FactSet also experienced a rise in its operating income, growing $90.3 million YoY from Q1 2016.

Key Growth Segments

Furthermore, FactSet’s diluted earnings per share yielded $1.66 in Q1 2017, compared to $1.43 in the same period of the fiscal year in 2016, helping fund the joint acquisitions. In terms of its client count, FactSet also experienced a strong uptick in this area, reflective of a total of 3,116, a net increase of 24 clients over the past three months that was driven by the recent acquisitions of Vermilion and CYMBA.

FactSet originally acquired Vermilion last month – the purchase was fuelled by a growing need for client reporting amidst a shifting regulatory atmosphere, both in requirements and sophistication. In particular, the Vermilion Reporting Suite (VRS) will help create and contribute to a new workflow around all elements of the client reporting process.

Previously, in September 2016, FactSet also completed its Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of CYMBA – as a UK-based company, CYMBA has a supported a solid foundation of core order management system functionality through its product suite.