FactSet, a US-based provider of integrated financial information and analytical applications, has acquired Vermilion Software and CYMBA Technologies.

FactSet acquired Vermilion for $67m and Cymba for $8m, both in cash.

FactSet CEO Phil Snow said: “CYMBA and Vermilion are outstanding additions as FactSet strives to more holistically address the portfolio life cycle through both innovation and acquisition.

“Operating alone, each company has developed compelling functionality to meet critical needs of 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.”

Vermilion, a client reporting and communications software provider to the financial services industry, which employs 59 staff across its offices in the UK, Singapore, and the US. Its Vermilion Reporting Suite (VRS) facilitates workflow around multiple aspects of the client reporting process.

UK-based CYMBA Technologies offers multi-asset class investment management solutions. The firm employs 11 staff in its London office.

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By GlobalData

FactSet said that it plans to help expand CYMBA’s functionality, fixed income coverage, as well as global support.

 “Vermilion and CYMBA’s operations did not have an impact on FactSet’s first quarter adjusted diluted earnings per share. For the second quarter of fiscal 2017, these two acquisitions combined are expected to reduce adjusted diluted EPS by $0.01 and reduce GAAP diluted EPS by $0.02. FactSet forecasts that the acquisitions will be breakeven to both adjusted and GAAP diluted EPS by the fourth quarter of fiscal 2017,” FactSet said.