Thomson Reuters Acquires Apsmart
Acquisition enhances world-class capability across Thomson Reuters mobile products
NEW YORK, LONDON – Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, today announced that it has acquired Apsmart, a London-based mobile platform and product development firm that was majority owned by DN Capital. The Apsmart acquisition will improve Thomson Reuters ability to provide customers with mobile solutions that drive a competitive differentiation in the marketplace.
Mobile is an increasingly significant way in which professionals work and consume information. The acquisition of Apsmart will enhance Thomson Reuters mobile product creation, design and development, allowing the company to deliver even more expert-enriched content, news and solutions through the interfaces that professionals want on the mobile devices they use.
Founded in 2009 by DN Capital and Rahul Powar, creator of the first Shazam iPhone application, Apsmart is at the cutting edge of mobile build and design. The team is well known for creating connected, data-driven applications for iOS and Android devices.
“This new team brings strong experience in end–to–end mobile development capabilities from user experience and design through to product realization and platform services,” said Robert Schukai, global head of mobile technology at Thomson Reuters. “As we move forward, we will have a greater ability to develop foundational mobile capabilities that build significant brand value in our mobile product portfolio.”
“The team at Apsmart is excited about the opportunity to apply our diverse mix of skills to the large Thomson Reuters customer base. We look forward to helping drive the strategy and creation of significant new experiences in mobile across the organization,” said Rahul Powar, new head of mobile application development at Thomson Reuters.
The addition of the Apsmart team will build upon the success of the advanced suite of Thomson Reuters mobile offerings which include Thomson Reuters WestlawNext and Thomson Reuters ProView eReader.
Terms of the agreement were not disclosed.
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 and risk, legal, tax and accounting, intellectual property 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 approximately 60,000 people and operates in over 100 countries. For more information, go to www.thomsonreuters.com
About DN Capital
DN Capital is a global early stage and growth capital investor in digital media, mobile, e-commerce and software companies with offices in London and Palo Alto. DN Capital's objective is to identify, invest in and actively support its portfolio companies to become global leaders. Portfolio companies include Shazam Entertainment, Endeca Technologies (Sold to Oracle), Datanomic (Sold to Oracle), Apsmart (Sold to Thomson Reuters), Eyeka, JacobsRimell (Sold to Amdocs) Mister Spex, OLX (Sold to Naspers), Digital Chocolate, Tbricks and Windeln.
The professionals at DN Capital bring over 50 years of private equity investment experience to their portfolio companies, and actively work with them to steward their growth through the various stages of development. Additional information about the firm and its portfolio companies can be found on its web site, www.dncapital.com.
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