FactSet Announces Acquisition of Cobalt Software

FactSet, a US-based financial data and software company, announced that it has acquired Cobalt Software, Inc. (“Cobalt”), a leading portfolio monitoring solutions provider for the private capital industry.

Founded in 2011, Cobalt offers a next-generation portfolio monitoring platform that enables private capital firms to efficiently collect, analyze, and report on fund and portfolio company performance metrics and KPIs.

Closed on October 12, the acquisition advances FactSet’s strategy to scale its data and workflow solutions through targeted investments as part of its multi-year investment plan and expands its private markets offering. The financial data provider mentioned that the transaction is not expected to have a material impact onits fiscal 2022 results.

“We see tremendous opportunity in private markets, and Cobalt’s leading capabilities across portfolio monitoring, cash flow analytics, and benchmarking analysis offer great value to a wide range of private capital investment firms,”said Goran Skoko, Executive Vice President, Research & Advisory Solutions, FactSet.

“FactSet and Cobalt share an unparalleled commitment to public service and we are delighted to be joining forces,”said Jason Weinstein, CEO, Cobalt.“There is a large and growing opportunity to offer integrated workflow, data and analytics to the PE/VC industry. By combining our capabilities, we will be optimally positioned to capitalize on the increasing demand for these solutions and deliver even more value to clients.”

Last month, FactSet has partnered with Macrobond​, a platform for conducting economic and financial analysis using an extensive data library, to deliver unparalleled insight into the dynamics of global equity markets.