Thomson boosts Eikon with Highline
Jinfo Blog

By Penny Crossland

Item

At the end of October, Thomson Reuters released its third quarter results (http://digbig.com/5bctqr) and was pleased to announce a return to growth for the business, with revenues in the professional division up by 5% and the markets division up by 1%.

A week later, the company was back on the acquisition trail, buying Highline Financial (http://www.highlinefi.com), from private equity firm Spire Capital Partners. A Texas-based financial information provider, Highline provides regulatory, market and analytical data for the US banking sector.

The company is well-respected in the US for its archive of regulatory information going back 20 years and its M&A data that goes back to 1993.

Interestingly, Thomson is buying back the insurance and banking assets it had sold to Highline in 2004 when it was still known as Thomson Media.

Thomson Reuters also announced that it had managed to sell more than 1,000 Eikon platforms to financial professionals, the 'one-stop financial tool' it launched in September this year (see http://www.vivavip.com/go/e30645 for a Livewire posting on the subject).

Highline Financial is to be integrated into the Eikon platform at the beginning of 2011 and, as reported by Integrity Research (http://digbig.com/5bctqq), will give Thomson Reuters a competitive edge over rival Bloomberg and other, smaller outfits such as SNL Financial (http://www.snl.com) and Capital IQ (http://www.capitaliq.com/), the latter having recently acquired TheMarkets.com.

As the accompanying press release states (http://digbig.com/5bctqp), a raft of new industry regulations and the need for 'post crisis performance monitoring' means the Highline acquisition is a timely boost to Thomson Reuters' financial analytics database. Eikon, by the way was launched last week to clients in the ASEAN region. See http://digbig.com/5bctqn for further details.

« Blog