Lotus Info Services Acquires ISYS, Plans Integration Of Real-Time And Fundamental Data
THIS MONTH'S LEAD STORIES
In its first step toward a system to integrate real-time and historical data, Lotus Development Corp. has acquired Isys Corp., a small software and database supplier based in Acton, MA. In the works is an "analyst's workstation," which would integrate Lotus software, fundamental databases such as Compustat, and real-time market quotes from Lotus's Signal product (MTR, December 1985).
The purchase price was not disclosed, but is believed to be about $5 million. The four-year-old Isys had revenues of $3 million in its fiscal year which ends January 31st, according to June Rokoff, senior vice president. Isys has about 160 clients, mostly professional money managers, and each pays between $10,000 and $30,000 per year for the service.
The Isys service has two components, Rokoff says. First, it delivers several widely-used financial databases on IBM PC-readable media, such as floppy disks and Bernoulli cartridge tapes. Second, it provides software for searching and analyzing the databases.
Compustat, Value Line, and Disclosure are among the databases offered, says Rokoff. Once a month, each Isys customer receives an updated copy via overnight express. Three software products are also offered: (1) Microscan, which allows money managers to screen data for companies with certain characteristics, (2) Analyzer, a Lotus-based program which permits in-depth analysis of specific companies' financial statements, and (3) Onesource, which provides a daily download of stock prices, which are in turn used with the fundamental databases to calculate P/E and other ratios.
REAL-TIME MONITORS
Onesource is a clear candidate for integration with the Signal quote service. Instead of relying on daily price updates, Rokoff says, analysts could monitor their portfolio strategies in real time. "We're hoping to have something out by summer," she says. Also under investigation is the possibility of direct updating of the fundamental databases through the Signal pipeline.
Isys and Lotus became connected through Don McLagan, the new head of Lotus's Information Services Division. Rokoff says both she and Isys president Larry Moore used to work for McLagan at Data Resources, Inc., and McLagan served on Isys's board prior to joining Lotus. Isys will continue to operate under its own name, she says, but will move to Lotus's operation in Cambridge, MA.
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