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February 10, 2025

CT-based fintech acquires cloud-based trading platform for $246M

IMAGE | Pixabay.com
By Andrew Larson

Norwalk-based fintech company FactSet has acquired a cloud-based trading platform, LiquidityBook, for $246.5 million in cash, according to an announcement Monday.

LiquidityBook provides trading services to hedge fund, asset and wealth management, outsourced trading, and sell-side middle office clients, through a network it operates of more than 200 brokers.  

The two companies partnered over the last year to enable “turnkey integration” of LiquidityBook’s order management system into FactSet, according to the announcement.

“This acquisition is further evidence of FactSet’s commitment to streamlining workflows across the entire portfolio life cycle to reduce our clients’ total cost of ownership,” said Rob Robie, executive vice president and head of institutional buy side at FactSet. “Clients want to spend their time on actionable investment decisions, not jumping between disparate research, portfolio management and trading platforms.”

New York-based LiquidityBook was founded in 2005 and has about 70 employees worldwide.

The acquisition closed on Feb. 7 and was funded by borrowings under FactSet’s existing revolving credit facility. 

FactSet, which is traded on the New York Stock Exchange, provides global financial digital platforms and enterprise solutions to more than 8,200 global clients, including over 218,000 individual users. 
 

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