Thomson Reuters to Acquire Complinet
NEW YORK, June 3, 2010 /PRNewswire via COMTEX/ --Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, today announced that it will acquire Complinet, a leading provider of global compliance information solutions for financial services institutions and their advisers. Terms of the deal, expected to close in the second quarter, were not disclosed.
Regulation is a major driving force shaping financial services globally, and every indication is that this trend will only increase. Complinet, which is based in London and has more than 200 employees, brings a leading market position, powerhouse brand, strong management team, and assets across the entire global regulatory compliance workflow to Thomson Reuters.
"Across the globe, our customers are increasingly focused on information and software solutions that address their needs in governance, risk and compliance. The acquisition of Complinet, when coupled with the deep resources of our existing legal and financial services businesses, will take Thomson Reuters to a leadership position in this fast-growing market," said Thomas H. Glocer, chief executive officer, Thomson Reuters.
"I am pleased that Complinet with its talented team will be joining our company."
Complinet's services are seen as a tremendous complement to Thomson Reuters existing professional information and software assets, and to its base of customers in global legal and financial markets. The deal also will further Thomson Reuters vision to provide end-to-end financial service compliance solutions, while building upon Complinet's already-strong market position. Together, Thomson Reuters and Complinet will help firms make intelligent commercial decisions based on a deeper and more connected understanding of all regulatory risks.
Chris Pilling, Complinet CEO and founder, said the deal with Thomson Reuters is the important next step in Complinet's natural evolution. "The acquisition by Thomson Reuters will allow Complinet to fully realize its vision, backed by the reach and resources of Thomson Reuters," he said. "Current customers will only see improvements to the unique services and quality they have come to expect from Complinet. Moving forward, we will see the true potential of this business when aligned with the scale and global footprint of Thomson Reuters."
Pilling will continue to lead Complinet and the business will continue to serve its clients as before. Pilling will report to Peter Warwick, chief executive officer of Thomson Reuters, Legal, and will work closely with businesses pan-Thomson Reuters to fully leverage current global regulatory compliance assets within both the Markets and Professional divisions.
Complinet is a leading online provider of connected risk and compliance solutions to the global financial services community. Complinet's cost-effective range of services includes a 'complete' service that delivers insight and interpretation of regulatory risks and developments. Our portfolio also helps firms to screen their clients, manage their policies and train their staff. Complinet was founded in 1997 and employs more than 200 people in its offices in New York, London, Sydney, Singapore and Dubai. Every day, industry professionals in more than 1,900 firms across 81 countries rely on Complinet as their information partner for ongoing analysis and solutions that help them keep pace with changing regulations.
About Thomson Reuters
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, healthcare and science and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs 55,000 people and operates in over 100 countries. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, go to www.thomsonreuters.com.
SOURCE Thomson Reuters