FactSet Research Systems Bundle
What is FactSet Research Systems?
FactSet Research Systems is a leading provider of financial data and analytics for investment professionals. It offers a comprehensive suite of tools and services designed to streamline workflows and enhance decision-making.
Founded in 1978, the company has evolved significantly, becoming an indispensable resource for the global investment community. Its early innovations laid the groundwork for modern financial data integration.
What is the brief history of FactSet Research Systems?
FactSet Research Systems began in 1978 as a two-man operation in New York, founded by Howard Wille and Charles Snyder. Their initial vision was to offer thorough financial overviews of companies. A significant early development occurred in 1982 when FactSet enabled its databases to directly populate spreadsheet cells, a groundbreaking move away from manual data entry and a key step in integrating data into user workflows.
Today, FactSet is a global financial digital platform and enterprise solutions provider. As of July 2025, the company has a market capitalization of approximately $16.50 billion. It serves over 8,200 clients, with more than 216,000 users across 37 offices in 20 countries. This extensive reach underscores its transformation from its early days. Understanding its market position can be further illuminated by a FactSet Research Systems PESTEL Analysis.
What is the FactSet Research Systems Founding Story?
The FactSet Research Systems history began in September 1978, with Howard Wille and Charles Snyder as its founders. Wille, previously a Partner and Director of Research at Faulkner, Dawkins & Sullivan, Inc., recognized a significant need for more efficient financial analytics. Together, they set out to create a solution that would simplify complex financial data for investment professionals.
The Genesis of FactSet
FactSet Research Systems was founded in September 1978 by Howard Wille and Charles Snyder. Their initial vision was to streamline financial analysis by providing clear, concise company overviews.
- Founded in September 1978 by Howard Wille and Charles Snyder.
- Howard Wille's background was in research at a Wall Street investment firm.
- The first product was a four-page financial overview called the 'Company FactSet'.
- The company's early operations were bootstrapped from a small New York office.
The initial business model centered on delivering a detailed, four-page financial report, aptly named the 'Company FactSet', designed to simplify complex financial analysis for investment professionals. A notable early innovation occurred in 1982 when Snyder reverse-engineered VisiCalc to allow FactSet databases to populate spreadsheet cells directly. This groundbreaking data integration capability was quickly adapted for Lotus 1-2-3 in 1983, following its surge in popularity. FactSet's origins are rooted in a bootstrapped endeavor, growing from a modest 'two-man shop' in New York, fueled by the founders' profound understanding of the financial industry's data requirements and the burgeoning potential of computer-based solutions. This early focus on data accessibility and integration laid the groundwork for what would become a significant player in financial data and analytics, offering insights that would later be compared to those found in the Competitors Landscape of FactSet Research Systems.
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What Drove the Early Growth of FactSet Research Systems?
The early years of FactSet Research Systems were defined by a commitment to innovation and expanding market reach. The company's journey began with the launch of its first client terminal in 1981, offering direct access to the 'Company FactSet' report.
Founding Innovations and Early Product Development
FactSet's initial growth was fueled by integrating its data with popular spreadsheet software, starting with VisiCalc in 1982 and Lotus 1-2-3 in 1983. This significantly improved how users interacted with financial information. The introduction of limited screening capabilities in 1984 evolved into the powerful 'Universal Screening' tool in 1988, allowing for highly customized data analysis.
Expansion and Market Penetration in the 1990s
The 1990s marked a period of substantial expansion for FactSet. The release of 'FactSet for Windows' in 1990 made the platform more accessible on the growing Windows operating system. International growth began with the establishment of a London office in 1993 and a Tokyo office in 1995.
Financial Performance and Public Offering
By the close of 1995, FactSet served fewer than 400 customers, yet notably included 84 of the top U.S. investment managers. Sales reached $36.2 million, with net income approaching $5 million. The company officially changed its name to FactSet Research Systems Inc. in June 1995, in anticipation of its initial public offering.
Strategic Growth and Client Retention
In 1996, FactSet launched its 'Portfolio Management Workstation' and began trading on the New York Stock Exchange under the ticker FDS. This era of focused product development and international expansion, coupled with a strong client-centric approach that yielded client retention rates exceeding 95%, established a solid foundation for FactSet's continued success. Understanding the Marketing Strategy of FactSet Research Systems provides further insight into this growth.
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What are the key Milestones in FactSet Research Systems history?
The FactSet company history is marked by strategic advancements and significant growth. Key milestones include the introduction of the DIRECTIONS interface and Online Assistant in 1998, enhancing user experience. The company bolstered its client support with 24-hour live telephone support in 1999. In a move to expand its offerings, FactSet acquired Cobalt Software in October 2021, followed by its inclusion in the S&P 500 in December 2021. A substantial acquisition of CUSIP Global Services for $1.925 billion occurred in late 2021, significantly broadening its data capabilities. Further strengthening its platform, FactSet acquired LiquidityBook for $246.5 million in February 2025, integrating cloud-based portfolio and execution management systems.
| Year | Milestone |
|---|---|
| 1998 | Introduced the DIRECTIONS interface and Online Assistant to improve user-friendliness. |
| 1999 | Launched 24-hour live telephone support, underscoring a commitment to client service. |
| 2021 (October) | Acquired Cobalt Software, a provider of portfolio monitoring solutions. |
| 2021 (December) | Became a component of the S&P 500 index. |
| 2021 (Late) | Acquired CUSIP Global Services from S&P Global for $1.925 billion, enhancing its data assets. |
| 2025 (February) | Acquired LiquidityBook for $246.5 million, adding cloud-based portfolio and execution management systems. |
FactSet has consistently innovated, particularly in the ESG data sector, earning accolades such as 'Best ESG Data Provider' and 'ESG Data Vendor of the Year' in 2024. The company has also actively integrated generative AI (GenAI) into its fiscal 2024 operations, collaborating with clients to develop advanced solutions and boost workflow efficiency.
Enhanced User Interface
The 1998 release of the DIRECTIONS interface and the addition of Online Assistant significantly improved the usability of FactSet's platform.
Client Support Excellence
The introduction of 24-hour live telephone support in 1999 demonstrated a strong dedication to client service and accessibility.
Strategic Acquisitions
Acquisitions like Cobalt Software, CUSIP Global Services, and LiquidityBook have strategically expanded FactSet's data and technology capabilities.
ESG Data Leadership
FactSet's recognition as a leading ESG data provider in 2024 highlights its commitment to crucial environmental, social, and governance data solutions.
Generative AI Integration
The company's active embrace of generative AI in fiscal 2024 aims to enhance client workflows and develop innovative solutions.
Market Recognition
Joining the S&P 500 in December 2021 signifies a major milestone and recognition of FactSet's market standing and growth.
FactSet navigates the competitive financial data landscape by addressing challenges through continuous technological advancement and strategic growth. The company maintains robust client relationships, evidenced by a 91% client retention rate in Q3 FY2025, underscoring the indispensable nature of its services.
Intense Market Competition
The financial data industry is highly competitive, requiring constant innovation to stay ahead. FactSet actively manages this through strategic development and acquisitions.
Evolving Client Demands
Meeting the ever-changing needs of clients in the financial sector necessitates ongoing investment in technology and data solutions. FactSet's focus on GenAI and ESG data addresses these evolving requirements.
Client Retention Strategy
Achieving a 91% client retention rate in Q3 FY2025 is a testament to FactSet's ability to deliver essential value and adapt to client needs, mitigating churn.
Technological Advancement
The imperative for continuous technological upgrades is a constant challenge. FactSet's integration of new technologies and platforms addresses this need effectively.
Data Integration and Management
Managing and integrating vast amounts of financial data from diverse sources is complex. FactSet's acquisitions, like CUSIP Global Services, bolster its data management capabilities.
Strategic Growth Management
Balancing rapid growth with operational efficiency and client satisfaction is a key challenge. FactSet's strategic approach to acquisitions and service delivery addresses this.
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What is the Timeline of Key Events for FactSet Research Systems?
The FactSet company history showcases a journey of consistent expansion and strategic innovation since its inception. From its founding in 1978, the company has evolved significantly, adapting to technological advancements and market demands to become a leader in financial data and analytics.
| Year | Key Event |
|---|---|
| 1978 | FactSet was founded by Howard Wille and Charles Snyder in New York. |
| 1981 | The company launched its first client terminal. |
| 1982 | FactSet enabled direct spreadsheet data population, initially with VisiCalc. |
| 1990 | FactSet for Windows was released. |
| 1993 | The first European office was opened in London. |
| 1995 | The company changed its name to FactSet Research Systems Inc. and opened an office in Tokyo. |
| 1996 | FactSet began trading on the NYSE under the ticker symbol FDS. |
| 1998 | The DIRECTIONS interface and Online Assistant were released. |
| 2000 | Howard Wille retired, and Philip Hadley was named CEO. |
| 2015 | Philip Snow became the CEO of FactSet. |
| 2021 (Oct) | FactSet acquired Cobalt Software. |
| 2021 (Dec) | The company joined the S&P 500 index. |
| 2021 (Dec) | FactSet acquired CUSIP Global Services for $1.925 billion. |
| 2024 (Feb) | FactSet earned recognition as the 'Best ESG Data Provider'. |
| 2025 (Feb) | FactSet acquired LiquidityBook for $246.5 million. |
| 2025 (June) | Q3 FY2025 GAAP revenues were reported at $585.5 million, marking a 5.9% increase year-over-year. |
| 2025 (Sept) | Sanoke Viswanathan was appointed CEO, succeeding Phil Snow. |
Fiscal 2025 Revenue Guidance
FactSet reaffirmed its fiscal 2025 guidance, expecting GAAP revenues between $2.305 billion and $2.325 billion. This reflects continued growth and market confidence.
Strategic Growth Initiatives
The company is focused on investing in strategic priorities, including enterprise solutions and expanding its client and user base. This approach aims to sustain growth and enhance market position.
Leadership Transition and Future Vision
The appointment of Sanoke Viswanathan as CEO in September 2025 signifies a strategic move to drive future growth. This transition supports FactSet's commitment to innovation and its vision for the global investment community.
Innovation in Analytics and ESG
FactSet continues to emphasize innovation, particularly in generative AI and ESG data solutions. This focus aligns with industry trends and strengthens its offering for sophisticated financial analytics, building on its Target Market of FactSet Research Systems.
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