Vista Equity Partners has made a binding offer to buy the Thomson Reuters Trade and Risk Management business, a subsidiary of the companys Enterprise Solutions business. Details of the agreement, including offer price, were not disclosed.
Thomson Reuters said in its quarterly earnings announcement in April 2011 that it had planned to divest the Trade and Risk Management business and focus on its core businesses, including its high-speed data distribution network Elektron. Part of the proceeds from the sale of the business will be used to reinvest in those core businesses, said Thomson Reuters in its earnings announcement.
Thompson Reuters will now undertake an employee information and consultation procedure. It will then enter into a sale and purchase agreement in respect of the proposed transaction, which is expected to close by January 31, 2012.
Barclays Capital is acting as sole financial advisor to Thomson Reuters with respect to the proposed transaction.
Vista Equity Partners is a US-based private equity firm with offices in San Francisco, Chicago and Austin.
(JDC)