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FactSet history
FactSet company history timeline
FactSet was founded by Howard Wille and Chuck Snyder in 1978.
In 1981 the company released its first client terminal, which connected a subscriber to FactSet's mainframe computers and allowed it to use the Company FactSet report.
In 1981, Snyder found a way to download data from the FactSet computer into Visicalc, meaning that clients could retrieve data from a database directly into a spreadsheet.
In 1982, in order to better serve customers, Snyder did some reverse engineering on VisiCalc, the first in a generation of spreadsheets, and developed a way that FactSet databases could directly populate the cells of a subscriber's spreadsheet.
In 1983 the company made this feature available to Lotus 1-2-3, which was eclipsing VisiCalc in spreadsheet popularity.
Current Chairman Philip A. Hadley joined the company as a consultant in 1985.
Along the way, FactSet increased the speed of delivery, in 1988 adopting the use of 9600 modems, quaint in terms of broadband hundreds of times faster a decade later, but an impressive improvement at the time.
A year later he became vice-president of sales, then in 1989 became senior vice-president and director of sales and marketing, a post he held until ascending to the top of the organization.
In 1990, FactSet for Windows was released.
In 1991 FactSet was made available on the increasingly popular Windows platform.
A London office opened in 1993, the first in Europe.
The company also changed its name in June 1995, becoming FactSet Research Systems Inc. in preparation for becoming a public company.
A Tokyo office opened in 1995.
The company recorded sales of $36.2 million in 1995 and net income of nearly $5 million.
By the end of 1995 FactSet had less than 400 customers, but they included 84 of the United States' top investment managers.
In 1996 the company released Portfolio Management Workstation, empowering global portfolio managers with a host of specialized tools.
The company began trading on the New York Stock Exchange in 1996 under the symbol FDS.
Also in 1997 FactSet became more user-friendly with the launch of Company Explorer.
Offices in Hong Kong and Sydney, Australia, were opened in 1998.
The product became easier to use, in 1998, with the release of the DIRECTIONS interface and the addition of Online Assistant, a web-based help and reference tool.
In 1999 a Boston office and training center also was added.
He took over a company with 764 clients and more than 25,000 users, generating $103.8 million in sales and $18.6 million in earnings in 1999.
FactSet introduced 24-hour live telephone support in 1999.
Wille retired as CEO and chairman in May 2000, Snyder stepped in as CEO on an interim basis, serving until September of that year, when Hadley was named the new CEO and chairman.
After being in business for more than 20 years, FactSet completed its first acquisition in 2000, paying close to $10 million for Innovative Systems Techniques, Inc., picking up the Vision Technology database management product, thus providing subscribers with advanced data analysis tools.
FactSet also expanded its European business by acquiring the JFC Group of companies for $60.4 million in 2004.
"Snyder Gift Is Largest in the School's History," Western Reserve Academy Campaign Update , Winter 2004.
In 2004, the company's sell-side platform, IBCentral, was released.
In 2008, FactSet acquired a copy of the Thomson Reuters WorldScope database, which it develops and markets as FactSet Fundamentals.
In 2009, FactSet combined its DIRECTIONS, Marquee, and IBCentral platforms into one product, called FactSet.
In January 2010, FactSet and FirstRain announced a partnership that would allow FactSet clients to access FirstRain's web research engine that finds, filters, and analyzes unstructured business data available online.
In June 2010, FactSet acquired Market Metrics, a market research firm situated in the United States that is solely focused on surveys conducted on advisor and insurance products.
In June 2012, FactSet acquired StreetAccount, which provides real-time company updates, portfolio and sector filtering, email alerts, and market summaries for investment professionals.
In 2013, FactSet acquired Revere Data, a provider of a line-of-business industry taxonomy, now branded FactSet Revere.
On February 9, 2015, FactSet acquired Code Red Inc, a provider of Research Management technology to the financial community.
On December, 2016, FactSet acquired Vermilion, a client reporting software, and CYMBA Technologies, an order management system (OMS) provider.
On March 20, 2017, FactSet acquired BISAM, a performance and risk provider, strengthening its coverage of critical workflows throughout the portfolio lifecycle.
In 2020, FactSet acquired Truvalue Labs, a pioneer in AI-driven environmental, social, and governance (ESG) data.
On December 20, 2021, FactSet joined the S&P 500.
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FactSet competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| BMC Software | 1980 | $2.0B | 6,000 | 14 |
| Juniper Networks | 1996 | $5.1B | 9,400 | - |
| ServiceNow | 2004 | $11.0B | 15,001 | 1,098 |
| Dassault Systèmes | 1981 | $37.5B | 1,672 | - |
| Risk Management Solutions | - | $1.8M | 15 | - |
| FICO | 1956 | $1.7B | 4,003 | 42 |
| Nuance Communications | 1992 | $1.4B | 6,501 | - |
| Minitab | 1972 | $103.8M | 22 | 18 |
| SEVEN Networks | 2000 | $15.8M | 193 | 4 |
| eXcelon Corporation | 1988 | - | 200 | 10 |
FactSet history FAQs
Zippia gives an in-depth look into the details of FactSet, including salaries, political affiliations, employee data, and more, in order to inform job seekers about FactSet. The employee data is based on information from people who have self-reported their past or current employments at FactSet. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by FactSet. The data presented on this page does not represent the view of FactSet and its employees or that of Zippia.
FactSet may also be known as or be related to FACTSET RESEARCH SYSTEMS INC, FactSet, FactSet JCF SAS, FactSet Research Systems Inc, FactSet Research Systems Inc., Factset and Factset Research Systems Inc.