Portware is a multi-asset execution management system (EMS) that is used by asset managers globally. The customizable Portware EMS works with the firms Alpha Vision analytics. Portware embeds its solutions in the middle of each client’s trading ecosystem as it integrates tightly with other key components, according to a company release.
“Portware is a highly innovative firm, with keen insight into the trading ecosystem, and strong recent success in the market. We are thrilled to welcome this talented group of individuals,” said Phil Snow, CEO of FactSet. “Portware’s tools and expertise in trading are an exciting complement to our current offerings. We are excited to enhance the productivity of FactSet users as we integrate Portware into adjacent workflows within our client base.”
“Portware’s explosive growth over the last three years, despite the difficult environment, is a testament to our strategy and vision for the industry, and we’re excited to bring our proven innovation and people to join the FactSet family,” said Alfred Eskandar, CEO of Portware.
He added, “Like FactSet, we believe in putting our clients first and constantly thinking of ways to enhance the client experience. We’re confident that our similar cultures and commitment to excellence will result in a collaborative environment for our people and an incredible opportunity to develop new and exciting products for the industry.”
FactSet will fund the acquisition with an expansion of its existing revolving credit facility. Following regulatory review, the transaction is expected to close before the end of FactSet’s first fiscal quarter.
