FactSet To Acquire CUSIP Global Services For $1.9B Cash

FactSet Research Systems Inc FDS agreed to acquire CUSIP Global Services (CGS) from S&P Global Inc SPGI for $1.925 billion in cash.
FactSet looks to receive an estimated tax benefit of ~$200 million as part of the transaction.
The acquisition will significantly expand FactSet's critical role in the global capital markets, advancing its open data strategy.
CGS will function as a part of FactSet Content and Technology Solutions (CTS).
On a pro forma basis, the acquisition will increase CTS's Annual Subscription Value (ASV) to over $425 million.
CGS's experienced and trusted team will report to Jonathan Reeve, EVP, and Head of CTS, FactSet.
FactSet held $708.9 million in cash and equivalents as of November 30.
Price Action: FDS shares closed higher by 0.44% at $479.51 on Thursday.