NASDAQ to buy Thomson Reuters' PR, IR services

NEW YORK: NASDAQ OMX has agreed to acquire Thomson Reuters' public relations, investor relations, and multimedia services businesses in an expansion of the exchange operator's Corporate Solutions group.

NEW YORK: NASDAQ OMX has agreed to acquire Thomson Reuters' public relations, investor relations, and multimedia services businesses in an expansion of the exchange operator's Corporate Solutions group.

The $390 million deal is expected to close in the first half of next year. NASDAQ will integrate Thomson Reuters' PR, IR, and multimedia businesses, which serve more than 7,000 clients globally, with its Corporate Solutions unit, which has about 3,000 customers.

With the transaction, NASDAQ will add a number of products and services to its PR and IR offerings, such as a media database, IR data, an enhanced webcasting platform, message analytics, and self-service publishing tools. NASDAQ's Corporate Solutions division provides PR, IR, and governance services to public and private companies, as well as some nonprofits.

“We've seen in the last several years the conversion of investor relations and public relations and have built out a nice suite of products. Thomson Reuters' business is complementary to the services we offer,” said Bruce Aust, EVP in the global corporate client group at NASDAQ. “We've got the scale and ability to integrate all of these products and give us the best in breed.”

The acquired services will not retain Thomson Reuters branding, Aust added.

NASDAQ has made a series of acquisitions in the past few years to build its corporate services group. In May, the exchange bought BWise, a Netherlands-based compliance and risk management company. Last year, NASDAQ purchased Glide Technologies, a London-based software provider specializing in corporate communications and reputation management.

Thomson Reuters restructured its markets division last year and saw several senior executive departures, including former SVP and global head of brand and PR Jolie Hunt. The company sold its healthcare division to private equity firm Veritas Capital in April.

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