Olemedia/E+ via Getty Images
FactSet Research Systems (NYSE:FDS) said Wednesday it acquired idaciti, a software-as-a-service platform providing insight to public financial and non-financial data, in order to expand its multi-year investment program to digitally transform its content collection infrastructure.
Although financial terms of the deal were not disclosed, FactSet (FDS) said the transaction closed on July 11 and is not expected to have a material impact on fiscal 2023 results.
The move comes as FactSet (FDS) “is committed to increasing not only the coverage and depth of our core proprietary content, but also the granularity of data collected, particularly across Deep Sector and sustainability, where we are seeing strong client demand and opportunity for differentiation,” said John Costigan, executive vice president and chief data officer at FactSet.
Founded in 2015, idaciti uses machine-learning technology to capture and standardize data, including company disclosures, regulatory filings and proprietary document repositories. It also uses a modern collection workflow for both structured and unstructured content to connect data discovery, normalization, and quality assurance in a single, iterative process.
More on FactSet Research Systems:
- FactSet: Everyone Should Know About This Company
- FactSet: Financial Services SaaS That Is Still A Good Long-Term Buy
