FactSet (NYSE: FDS), a global provider of integrated financial information and analytical applications, has acquired Cusip Global Services from S&P Global for $1.925 billion in cash.
CGS manages a database including 60 different data elements identifying 50 million global financial instruments. The firm is an exclusive provider of Cusip and CINS identifiers and is the official numbering agency for ISIN identifiers.
Following the deal, CGS will join the Factset content and technology services division. The firm will serve the global securities market to steward the Cusip system. The deal will expand FactSet’s role in global capital markets.
“We are excited to welcome CGS’s talented team to the FactSet family,” said Phil Snow, CEO, FactSet. “CGS is a unique asset with tremendous market recognition providing deep alliances across the financial industry. Its core competency in securities identification aligns well with FactSet’s industry leading data management capabilities.”
FactSet’s advisors on the transaction include Centerview Partners LLC as financial advisor and Cravath, Swaine & Moore LLP as legal advisor.