Business Daily from THE HINDU group of publications
Friday, Apr 18, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Friday, Apr 18, 2008 ePaper | Mobile/PDA Version | Audio |
|
|
|
|
|
|
|
Corporate
-
Mergers & Acquisitions Thomson Corpn completes Reuters Group acquisition
Our Bureau Bangalore, April 17 Thomson Corporation has announced that it has completed the acquisition of Reuters Group, creating a new company Thomson Reuters. The Reuters acquisition completes the company’s basket of offerings — with the addition of the news portfolio. Thomson Reuters will provide information for businesses and professionals in the financial, legal, tax and accounting, scientific, healthcare, and media markets. Thomson Reuters is the “combination of two successful businesses” and is poised for global growth with greater scale and breadth, said Mr David Turner, Chief Financial Officer, Markets Division, Thomson Reuters. He said the executive team in the new company comprises management from both companies, headed by Mr Thomas H. Glocer, CEO. Ms Sandhya Vasudevan heads the company’s operations in India. New York-headquartered Thomson Reuters has a global footprint across North America, Europe and Asia. The $12.4-billion company employs 50,000 people globally. While 17,000 come from Reuters, the balance is from Thomson. About 60 per cent of revenues come from North America, one-third from Europe and 10 per cent from Asia. There will be increased growth in Asia in the times to come, said Mr Turner. He said there has been no lay off at Reuters post acquisition, adding that there will be an “increase” in head count although he would not give exact numbers. In India, Thomson Reuters employs around 6,000 people. The company has operations in Bangalore, Chennai and Hyderabad. The Bangalore centre alone employs 5,000 people; 50 per cent of that is from Reuters. “Bangalore is the third biggest city globally in terms of population of employees,” said Mr Turner, after Minnesota and London. Thomson Reuters’ Indian operations cater to both Indian and global markets. The ‘Reuters Market Light’ live service provides farmers in Maharashtra updates on pricing, news and weather via SMS messages. The company is also in association with research institutes in the country for providing scientific information. It also provides legal, financial and media intelligence for the Indian market. More Stories on : Mergers & Acquisitions | Newspapers & Publishing
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
 |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2008, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|