FactSet, the Norwalk-headquartered provider of integrated financial information and analytical applications, has acquired CUSIP Global Services (CGS) from S&P Global for $1.9 billion in cash.
CGS manages a database of 60 data elements identifying more than 50 million global financial instruments and provides the foundation for security master files relied on by front, middle and back-office functions. CGS, which generates annual revenues of approximately $175 million, is the exclusive global provider of CUSIP and CINS identifiers and is the official numbering agency for ISIN identifiers in the U.S.
With this acquisition, CGS will function within FactSet Content and Technology Solutions. The transaction is expected to close in the first quarter of 2022.
“We are excited to welcome CGS”™s talented team to the FactSet family,” said Phil Snow, CEO of FactSet. “CGS is a unique asset with tremendous market recognition providing deep alliances across the financial industry. Its core competency in securities identification aligns well with FactSet”™s industry leading data management capabilities. We believe this acquisition will greatly benefit FactSet”™s clients, employees and shareholders.”
