FactSet buys DealMaven
FactSet Research Systems (NYSE:FDS), a leading provider of integrated financial information and analytical applications to the global investment community, today announced that it has acquired DealMaven.
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Formed in 1999 by former investment bankers, DealMaven provides tools to improve the workflow of investment bankers when working in Microsoft Office. DealMaven's add-ins for Microsoft Excel, PowerPoint and Word help firms gather, analyze, check and present data more efficiently. DealMaven's financial analysis training program has been employed by several bulge bracket investment banks.
DealMaven is headquartered in New York City and currently has annual subscriptions of $3.2 million and is supported by 17 employees. The purchase price of $14 million was paid out of available cash. The acquisition of DealMaven is not expected to have an impact on FactSet's second quarter and fiscal 2008 diluted earnings per share.
"DealMaven's products and personnel are highly regarded for their unique and high quality MSOffice tools and training," said Kieran Kennedy, FactSet's Senior Vice President and Director of Investment Banking and Brokerage Services. "Its suite of products, built to improve the workflow, knowledge and productivity of investment bankers, will significantly enhance our current offerings to sell-side professionals."