FactSet buys financial analytics firm Bisam from Aquiline Capital, as SaaS boosts M&A

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FactSet Research Systems Inc. (NYSE: FDS) has purchased Bisam Technologies S.A., a software analytics company for the financial services sector, from private equity firm Aquiline Capital Partners. The deal is valued at approximately $205.2 million.

Bisam, based in Paris, provides digital tools for the asset management industry. The target’s software, called Cognity, offers a variety of services including: multi-asset portfolio analytics, performance data, market risk analysis, portfolio construction for multi-asset portfolios. The target uses its software technology to measure asset performance, stress-testing and to provide scenario analysis.

FactSet is a multinational financial data and software company headquartered in Norwalk, Connecticut. The buyer provides investment analytics tools and financial research information for a variety of professionals, including: investment bankers and managers, hedge funds, plans and pensions, buy-side and sell-side traders, corporations, consultants and advisers. “As investment processes and asset types become more complex, the financial community is seeking increased insight and transparency on performance and risk across their enterprises,” states FactSet CEO Phil Snow.

Aquiline is a New York-based private equity firm investing in the middle-market financial services industry. The middle-market PE firm targets niche companies focused on insurance, banking, specialty finance, securities asset management and financial technology. Aquiline has invested more than $2.1 billion since its inception in 2005. Willkie Farr & Gallagher LLP served as legal counsel to Bisam and Aquiline.

Deals for software-as-a-service (SaaS) companies are expected to soar throughout 2017, according to Mergers & Acquisitions’ Mid-Market Pulse (MMP). Recent SaaS deals include: TA Associates’ agreement with the Carlyle Group (Nasdaq: CG) to acquire real-time monitoring software provider ITRS; Hewlett Packard Enterprise Co.’s (NYSE: HPE) deal to buy software company SimpliVity for $650 million in cash; Thoma Bravo’s deal to acquire software maker Planview; Syncsort Inc.’s agreement to purchase data integration software developer Trillium Software; and Dun & Bradstreet Corp.’s (NYSE: DNB) acquisition of sales data provider Avention.

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