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12, 2012, 8:39 AM
Services With Thomson Reuters Investor Relations Deal
Nasdaq OMX Group Inc. has agreed to acquire
Thomson Reuters Corp.'s investor relations, public relations and
multimedia services businesses for $390 million in cash, as the exchange
operator looks to build out its corporate services.
The businesses, which have
more than 7,000 clients worldwide, will be integrated into Nasdaq’s
corporate solutions segment. The segment will become a larger
investor-relations outfit and a provider of PR and webcasting services,
giving Nasdaq more offerings it can sell to corporate clients.
With trading volume weak,
Nasdaq has been working to build up a range of technology and data services
and products to sell to its traders and listed companies that create
recurring revenue contracts. To do so, Nasdaq has embarked on a series of
This deal is expected to close
in the first half of next year and Nasdaq expects it to add to earnings
within the first year, excluding transaction-related costs.
“We believe this is an
exciting opportunity that will contribute to our ability to grow our
business, better serve our customers and create opportunities for our
Bob Greifeld said in a statement on Nasdaq’s website.
In October, Nasdaq agreed to
acquire the index business of Mergent Inc. in a deal that would make the
exchange operator one of the largest providers of dividend-themed indexes.
Meanwhile, Thomson Reuters
unveiled a restructuring of its markets business last year amid
disappointing early sales of a new markets desktop product called Eikon. It
also underwent a major reshuffling of its top leadership ranks, including
the departures of several high-level executives.
Thomson has been aiming to
focus more on its struggling core financial-markets business. In April, the
company said it would sell its health-care business to private-equity firm
Veritas Capital for $1.25 billion in an all-cash deal.
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