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Thomson Reuters upbeat on Asian region

Special Correspondent

Merger makes ‘a powerful player in the market’

BANGALORE: “One of the most exciting developments in the intelligent information space in generations”, said David Turner, Chief Financial Officer of Thomson Reuters, here on Thursday. He was referring to Thomson’s acquisition of Reuters, a merger that makes the combine “a powerful player in the market for specialised information.”

Before the merger, the two companies employed about 6,000 people in Bangalore, about 3,000 each. Mr. Turner said that the Bangalore operations were significant because it employed a significant proportion of the global employee strength of 50,000.

He said Thomson Reuters’ operations from India were not meant for only the national market but for the Asian region. Although the Asian region accounted for only 10 per cent of the combine’s revenues, “it has been witnessing strong growth in recent years,” he said.

About 60 per cent of the revenue was from the U.S. market and about one-third was from the European market, he said.

The entity, Mr. Turner said, “combines the depth that Thomson enjoys in the specialised information space, with Reuters’ width as a player with a presence across the globe.”

Reuters enjoyed a significant presence as a global media service, apart from being a major provider of specialised financial information, he said.

Thomson’s strength, he said, lay in its reputation as a provider of specialised information to professionals in the field of legal, healthcare, scientific, and tax and accounting spaces.

The company had “a truly global presence”, operating in 143 countries. This, he said, “will help our clients do their business better.”

Completes acquisition

PTI reports from

New York:

Financial data provider Thomson Corp on Thursday announced the completion of a $17.2 billion deal to acquire Reuters Group Plc, creating one of the world’s largest news and data services company.

Following the completion of the deal, the shares of the combined entity, named, Thomson Reuters, on Thursday began trading on the Toronto, New York and London stock exchanges, a statement said here. Thomson Reuters also unveiled its new branding and a global advertising campaign and said that it might repurchase up to $500 million worth of its shares over the course of the year.

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