FactSet Said to Seek Buyers for Market Metrics Survey Divisionby
Unit could draw interest from Broadridge, buyout firms
Data services provider paid $55 million for division in 2010
FactSet Research Systems Inc., a provider of data and analysis services to investment firms, is exploring a sale of Market Metrics, a subsidiary that uses surveys to help its clients better serve customers, according to people familiar with the matter.
FactSet is working with a financial adviser to seek buyers for the division, which it acquired in 2010 for $55 million, said the people, who asked not to be identified because the matter isn’t public. The unit could draw interest from private equity firms and other data providers including Broadridge Financial Solutions Inc., said one of the people.
A spokeswoman for Broadridge declined to comment. Representatives for Factset didn’t respond to requests for comment.
FactSet competes with Bloomberg LP, the parent of Bloomberg News. The Norwalk, Connecticut-based company’s net income rose about 7 percent in the quarter ended Nov. 30, to about $60 million, compared to the same period a year earlier, according to a filing with the Securities and Exchange Commission. Revenue rose 12 percent to about $271 million.