Factset has recently acquired Liquiditybook for a gross purchase price of $246.5 million in cash. Over the past year, the two companies have partnered to integrate Liquiditybook’s flagship order management system into the Factset workstation, connecting adjacent steps in the front office trade workflow.
Liquiditybook, founded in 2005 and headquartered in New York with approximately 70 employees worldwide, offers a modular platform for the full trading life cycle, enabling multi-asset class portfolio, order, and execution management capabilities. It operates a proprietary FIX network that enables streamlined connectivity to over 200 brokers and order routing to more than 1,600 destinations across 80 markets globally.
The acquisition is expected to enhance Factset’s ability to serve the integrated workflow needs of clients across the portfolio life cycle by combining Liquiditybook’s order management, pre-trade compliance, and investment book of record capabilities with Factset’s industry-leading investment research, execution management, performance, reporting, and portfolio analytics solutions.
The acquisition closed on February 7, 2025, and was funded by borrowings under Factset’s existing revolving credit facility. The transaction is expected to be modestly dilutive to Factset’s fiscal 2025 GAAP and adjusted diluted EPS.
The acquisition represents Factset’s commitment to streamlining workflows across the entire portfolio life cycle to reduce clients’ total cost of ownership. It is also a move to meet the increasingly sophisticated needs of clients and deliver increased value and flexibility to them. Today the company's shares have moved -1.2% to a price of $461.0. For more information, read the company's full 8-K submission here.
