FactSet Research Systems Inc. has agreed to acquire Interactive Data Managed Solutions from Intercontinental Exchange Inc. for cash.
Interactive Data Managed Solutions provides real-time market data desktops, customizable web-based portals and mobile solutions for the global wealth management industry. It employs more than 300 people in 14 offices in Europe and the U.S.
Terms of the deal were not disclosed. The transaction is expected to close during FactSet's third quarter for fiscal 2017 and is not expected to have a material impact on diluted EPS.
"With the [Interactive Data Managed Solutions] business, we establish ourselves as a leading end-to-end provider of solutions for the wealth management industry," said FactSet CEO Phil Snow.