Factset Research Systems Inc To Acquire Cusip Global Services - Conference Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Ashish Sabadra - RBC Capital Markets, Research Division - Analyst : Congrats on the deal as well. And Phil and JR, thanks for providing a lot of color around the cross-sell opportunities. I was wondering, as you think about these opportunities, how should we think about the revenue growth for CGS? From the current mid- to high single digit, how should we think about it over the midterm? And also if it's possible to quantify the revenue synergies also on the FactSet side by ability to sell FactSet into the CGS customer base.

Question: Ashish Sabadra - RBC Capital Markets, Research Division - Analyst : That's very helpful color. And maybe, Linda, if I can ask a question on the earnings accretion. The acquisition is expected to be accretive in the first year itself. But as we think here about out years, particularly calendar year '23, I was wondering if you could provide any color on how should we think about the accretion there. We were estimating close to a mid-single-digit earnings accretion. Wondering if we are in the right ballpark there. Any color would be helpful. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

Question: Ashish Sabadra - RBC Capital Markets, Research Division - Analyst : No worries. Congrats once again.

Question: Andrew Owen Nicholas - William Blair & Company L.L.C., Research Division - Analyst : My first one, just a point of clarification. It sounds like CGS gives you some operational capabilities. There's certainly some revenue cross-sell opportunities as well. Is there any benefit to owning the CGS data specifically? Does that provide you any opportunities that weren't available to you as a licensor of that data or a subscriber to that data feed? And if so, are there any examples that you can provide on that front?

Question: Andrew Owen Nicholas - William Blair & Company L.L.C., Research Division - Analyst : Understood. And then for my follow-up, you talked a little bit about price as a driver of the growth algorithm. Is there any other way to describe kind of the rest of it, or kind of segment it off? Is the vast majority of the additional growth from new products and asset classes which you hope to kind of keep expanding? Or are there other pieces to this growth algorithm that come above that?