FactSet Research Systems Inc., a global financial information provider for a variety of firms and asset classes, has acquired research management firm, Code Red, Inc.

Late last year the firm also moved to bolster its research capabilities, as FactSet partnered with Xignite in order to cater to the growing needs of financial markets data. FactSet integrated Xignite’s cloud platform in a bid to increase the level of information available.

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Code Red specializes in research management technologies for the financial services community, which include such channels as endowments and foundations, institutional asset managers, sovereign wealth funds, pensions and hedge funds.

The firm also allows firms to consolidate their research capabilities and data from a multitude of sources – the utility is part of a suite of services targeting asset managers and other market participants.

According to Eric Weitzman, Vice President of Product Development for FactSet, in a recent statement on the acquisition, “With the addition of Code Red to FactSet’s existing RMS solution, FactSet now offers a complete research management solution for all of our clients’ workflows. We are confident that the investment community will derive great value from this partnership.”

“Code Red is proud to join FactSet and to further develop our research management technology. Code Red shares FactSet vision of becoming the industry-leading solution for research management,” added Tim Gavin, CEO of Code Red, in an accompanying statement.