FactSet (NYSE: FDS | NASDAQ: FDS), a global financial digital platform and enterprise solutions provider headquartered in Norwalk, has acquired Idaciti Inc., a software-as-a-service (SaaS) platform that provides insight to public financial and non-financial data.
Founded in 2015 and operating with offices in New York City and Denver, Idaciti applies a “taxonomy-first” approach to structuring information from company disclosures, regulatory filings and proprietary document repositories. It has combined this expertise with machine learning-assisted technology to capture and standardize data at an exceptional level of granularity, quality and speed. The platform uses a modern collection workflow for both structured and unstructured content to connect data discovery, normalization, and quality assurance in a single, iterative process.
The financial terms of the acquisition were not disclosed. FactSet added the transaction is not expected to have a material impact on its fiscal 2023 results.
“FactSet 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. “We are excited to work with the Idaciti team and will continue investing to scale FactSet”™s content refinery to provide the most comprehensive and connected inventory of client, proprietary, and third-party content.”
