Edgar Online Buys XBRL Software Firm UBmatrix

Edgaronline

Financial information service Edgar Online, which had said for nearly a year now that it was looking for partnerships to boost its position in the XBRL data standard for financial reporting it pioneered, is buying XBRL software firm UBmatrix. In a statement, Edgar Online (NSDQ: EDGR) says the deal will combine its “position as the leading provider of (SEC) public company XBRL filings and XBRL data, and UBmatrix’s experience as the leading XBRL software provider to independent software vendors and major U.S. and international regulators.”

The deal comes six months after Edgar Online, which is publicly traded, got a $12 million investment from PE firm Bain Capital. This is an all-stock deal and Edgar Online says that, post-acquisition, UBmatrix’s shareholders will own about 16 percent of the joint company. As part of the deal, UBmatrix’s owners are also investing an additional $2 million in the company.

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