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Reuters – 43 minutes ago
By John McCrank
REUTERS - Nasdaq OMX Group Inc said on Wednesday it agreed to buy Thomson Reuters Corp's investor relations, public relations, and multimedia services units for $390 million, as the exchange operator builds businesses that do not depend on trading.
The all-cash deal will add to Nasdaq's earnings within 12 months of its closing, excluding transaction-related costs, it said.
Nasdaq (NSQ:NDAQ - News) is looking to sell additional services to the companies that list on its exchanges as a way to draw more revenue from its corporate customers. The company already gets more than 70 percent of its revenue from businesses that do not depend on transactions.
The units that Nasdaq is buying help companies communicate with investors and media and create and distribute webcasts and other video presentations.
Nasdaq has made a binding offer for the units, but will not enter a definitive agreement until both companies talk to relevant unions and works councils. The deal is expected to close in the first half of 2013.
Thomson Reuters (TOR:TRI.TO - News)(NYS:TRI - News) has been trying to accelerate growth and reshape its portfolio of businesses in the wake of the financial crisis after customers in banking and finance laid off tens of thousands of employees to cut costs.
In April, the company sold its Healthcare business to private equity firm Veritas Capital for $1.25 billion in cash.
Reuters is a unit of Thomson Reuters.
(Reporting by John McCrank; Editing by Alden Bentley, Dan Wilchins and Jeffrey Benkoe)
http://uk.finance.yahoo.com/news/nasdaq-buy-thomson-reuters-pr-142243688.html
By John McCrank
REUTERS - Nasdaq OMX Group Inc said on Wednesday it agreed to buy Thomson Reuters Corp's investor relations, public relations, and multimedia services units for $390 million, as the exchange operator builds businesses that do not depend on trading.
The all-cash deal will add to Nasdaq's earnings within 12 months of its closing, excluding transaction-related costs, it said.
Nasdaq (NSQ:NDAQ - News) is looking to sell additional services to the companies that list on its exchanges as a way to draw more revenue from its corporate customers. The company already gets more than 70 percent of its revenue from businesses that do not depend on transactions.
The units that Nasdaq is buying help companies communicate with investors and media and create and distribute webcasts and other video presentations.
Nasdaq has made a binding offer for the units, but will not enter a definitive agreement until both companies talk to relevant unions and works councils. The deal is expected to close in the first half of 2013.
Thomson Reuters (TOR:TRI.TO - News)(NYS:TRI - News) has been trying to accelerate growth and reshape its portfolio of businesses in the wake of the financial crisis after customers in banking and finance laid off tens of thousands of employees to cut costs.
In April, the company sold its Healthcare business to private equity firm Veritas Capital for $1.25 billion in cash.
Reuters is a unit of Thomson Reuters.
(Reporting by John McCrank; Editing by Alden Bentley, Dan Wilchins and Jeffrey Benkoe)
http://uk.finance.yahoo.com/news/nasdaq-buy-thomson-reuters-pr-142243688.html
