Reuters To Acquire Analytics Company StarMine
New York - Reuters (LSE: RTR; NASDAQ: RTRSY), the global information company, has entered into an agreement to acquire San Francisco-based StarMine, a privately held provider of analytics and equity research tools and objective performance ratings to securities analysts.
Reuters plans to retain and continue to work with the existing StarMine management team and their highly skilled workforce. Reuters also plans to continue to support existing StarMine customers and to continue to invest in StarMine’s leading decision-support analytic capabilities.
Michael Peace, Reuters Global Head of Research and Asset Management, said:
"This deal delivers on our strategy of providing high-value content and insight to Reuters customers around the world. StarMine brings a unique set of tools, skills and capabilities that complement our existing, highly-regarded research and asset management product portfolio. In particular, StarMine’s advanced analytics will provide an exciting new level of functionality to our Reuters Knowledge offering. We also believe that StarMine will be a strong complement to Thomson’s offerings following completion of our pending combination.
“This acquisition highlights Reuters ongoing commitment to investing in high-value, cutting-edge products and services, ensuring that we continue to help the investment management and research community make better investment decisions.”
Joe Gatto, StarMine Chief Executive, said:
“StarMine excels at helping clients extract more value from financial information in less time. Joining forces with Reuters will allow StarMine to deliver value over much broader sets of financial information than it does today. Together we’ll be able to meet the needs of more customers globally. We are a natural fit and will be a powerful combination.”
The transaction is subject to customary terms and conditions. Financial terms of the all cash transaction were not disclosed.
Victoria Brough, Reuters
Tel: +44 207 542 8763, Mobile: +44 7967 044 840
Frank De Maria, Reuters
Tel: +1 646 223 5507, Mobile: +1 917 215 4484
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