On October 20, 2020, FactSet, a global provider of integrated financial information, analytical applications, and industry-leading service, announced that it has entered into a definitive agreement to acquire TruValue Labs, Inc., a pioneer in AI-driven environmental, social, and governance (ESG) data. The transaction is expected to close later this year and is not expected to have a material impact on FactSet's fiscal 2021 results. Wilson Sonsini Goodrich & Rosati represented TruValue Labs in the transaction.
Founded in 2013 and headquartered in San Francisco, TruValue Labs applies AI-driven technology to over 100,000 unstructured text sources in 13 languages, including news, trade journals, and nongovernmental organizations and industry reports, to provide daily signals that identify positive and negative ESG behavior. Its coverage spans over 19,000 public and private companies and generates short-term, long-term, and momentum scores derived from hundreds of signals. These signals are mapped against the Sustainability Accounting Standards Board (SASB) standards and United Nations Sustainable Development Goals (SDGs), allowing investors to evaluate ESG risk factors and real-world actions and impacts for quantitative analysis and back-testing.
The Wilson Sonsini team that advised TruValue Labs in the transaction includes:
M&A
Rich Mullen
General Corporate
Andy Hoffman
Mike Pestana
Technology Transactions
Chris Paniewski
Data & Privacy
Matt Staples
Daniel Chen
Michael O’Brien
Employee Benefits & Compensation
Michael Klippert
Real Estate
Susan Reinstra
Sean Wilkinson
For more information, please see FactSet’s press release.