FactSet's Asset Sales Boost Investor Value, Q4 View Revised
Zacks Investment Research | Jul 10, 2016 09:55PM ET
FactSet Research Systems Inc. (NYSE:FDS) has always strived to maximize shareholder value. In its efforts to do so, the business information services provider has recently completed the sale of its two low-margin businesses and announced an accelerated share repurchase program.
Last week, FactSet announced the completion of the sale of Market Metrics and Matrix Solutions – the company’s market research businesses that focus on advisor-sold investments and insurance – to Asset International, a portfolio company of Genstar Capital. The companies had entered into a definitive agreement this May.
FactSet received $165 million from the sale of these assets. Apart from this, the company will also receive an earn-out of $10 million, depending on the achievement of certain growth targets over the next two years.
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