The largest printing conglomerate in the nation is acquiring a onetime Norwalk company that struggled to build a business publishing Securities and Exchange Commission documents online and extracting data from filings.
R.R. Donnelley is spending $70.5 million for EDGAR Online Inc., which takes its name from the SEC”™s EDGAR database. EDGAR Online lost $9.8 million last year as sales rose 43 percent to $27.8 million; the company has never reported an annual profit and at the end of last year had an accumulated deficit totaling $86 million.
Last year EDGAR Online designated Rockville, Md. as its new headquarters, having been based in Norwalk since its 1995 inception as Cybernet Data Systems Inc.
Chicago-based R.R. Donnelley said EDGAR Online has augmented its financial services offerings since 2008 with its mainstay software to create or review documents using XBRL (eXtensible Business Reporting Language).
