FactSet × idaciti, Inc.
FactSet acquired idaciti, Inc., a technology company specializing in structuring and collecting data from financial documents. [71, 83] The transaction closed on July 11, 2023, and was not expected to have a material impact on FactSet's fiscal 2023 results, with financial terms not being publicly disclosed. [71] The acquisition is part of FactSet's strategy to digitally transform its content collection and accelerate the delivery of granular data, particularly for Deep Sector and sustainability analysis. [71, 83]
The asset
idaciti, an innovator in data structuring and collection technology that uses a 'taxonomy-first' approach to standardize data from regulatory filings and other disclosures.
The record
- Seller status
- Going concern
- Sector
- financial data technology
- Modalities
- software, technology
- Jurisdiction
- US
What it means if you hold data
This acquisition is about the 'how' of data collection, not just the 'what'. FactSet is buying technology to improve the speed, granularity, and quality of its own proprietary data feeds, showing that the underlying infrastructure for refining data is a key competitive asset for major financial data providers. [71]