FactSet Research Systems Inc. (NYSE:FDS) (Nasdaq:FDS), a leading provider of integrated financial information and analytical applications to the global investment community, has acquired StreetAccount LLC.
Known for its timely and informative news summaries, StreetAccount provides investment professionals with an efficient method for managing news flow. The StreetAccount service includes real-time company updates, portfolio and sector filtering, email alerts, and market summaries. Content is written by financial professionals and can be customized for portfolio, index, sector, market, time of day (i.e., Overnight Summaries), and category (i.e., Top Stories, Market Summaries, Economic, M&A).
"StreetAccount provides a valuable service to investment professionals, distilling the most relevant news into timely, digestible content filtered by readers' interest," said Goran Skoko, FactSet's Director of Product Development for Market Data. "StreetAccount content is a natural fit for FactSet that will complement our strong partnership with Dow Jones and other news vendors already available on the FactSet platform. This acquisition is right in line with FactSet's long-term commitment to investing in unique content sets."
Earlier this year, FactSet became the sole distributor of StreetAccount news. Current FactSet users can gain integrated access to StreetAccount through the FactSet workstation and iPad application.
"Institutional investors are challenged by the volume of information they receive," explains Gregory Jones, Senior Vice President, StreetAccount. "StreetAccount cuts through the clutter to deliver to users the news they need most. We're delighted to join FactSet as we share a common mission: to transform information into intelligence for our clients."
The acquisition of StreetAccount is not expected to have a material impact on FactSet's fiscal 2012 fourth quarter or fiscal 2013 diluted earnings per share.