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December 20, 2016, Norwalk: FactSet, a leading provider of integrated financial information and analytical applications, has acquired Vermilion Software Limited.

Based in Norwalk, Connecticut, FactSet was founded in 1978 and has been publicly held since 1996. The company is dual listed on the New York Stock Exchange and the NASDAQ Stock Market under the symbol ‘FDS’.

Client reporting is a rapidly evolving area of the market as regulatory requirements rise and investors grow increasingly sophisticated. Data integration into the reporting process is often the largest bottleneck.

The Vermilion Reporting Suite (VRS) supports the workflow around all elements of the client reporting process. The combined FactSet-Vermilion solution will allow for seamless integration of data from FactSet to Vermilion’s DataMart, which drives the Vermilion Reporting Suite.

Simon Cornwell, Global Sales and Marketing Director, Vermilion, remarked: “Beyond the strategic fit and opportunity, there is a clear cultural fit between our two organizations. Vermilion offers its clients a strong consultative approach and a focus on customer service, one of FactSet’s hallmarks.”

“Vermilion is an outstanding addition for us as we strive to more holistically address the portfolio life cycle through both innovation and acquisition,” explained Phil Snow, CEO, FactSet. “Vermilion has developed compelling functionality to meet critical needs within the investment management community; in combination with FactSet’s core strengths and global commercial footprint, we believe we will better meet client needs going forward.”