21 Aug 2007
Reuters To Acquire Analytics Company StarMine
New York - Reuters (LSE: RTR; NASDAQ: RTRSY), the global information company, has entered into an agreement to acquire San Francisco-based StarMine, a privately held provider of analytics and equity research tools and objective performance ratings to securities analysts.
Reuters plans to retain and continue to work with the existing StarMine management team and their highly skilled workforce. Reuters also plans to continue to support existing StarMine customers and to continue to invest in StarMine’s leading decision-support analytic capabilities.
Michael Peace, Reuters Global Head of Research and Asset Management, said:
"This deal delivers on our strategy of providing high-value content and insight
to Reuters customers around the world. StarMine brings a unique set of tools, skills
and capabilities that complement our existing, highly-regarded research and asset
management product portfolio. In particular, StarMine’s advanced analytics will
provide an exciting new level of functionality to our Reuters Knowledge offering.
We also believe that StarMine will be a strong complement to Thomson’s offerings
following completion of our pending combination.
"This acquisition highlights Reuters ongoing commitment to investing in high-value, cutting-edge products and services, ensuring that we continue to help the investment management and research community make better investment decisions."
Joe Gatto, StarMine Chief Executive, said:
"StarMine excels at helping clients extract more value from financial information
in less time. Joining forces with Reuters will allow StarMine to deliver value over
much broader sets of financial information than it does today. Together we'll be
able to meet the needs of more customers globally. We are a natural fit and will
be a powerful combination."
The transaction is subject to customary terms and conditions. Financial terms of the all cash transaction were not disclosed.
Contacts:
Victoria Brough, Reuters
Tel: +44 207 542 8763, Mobile: +44 7967 044 840
Email: victoria.brough@reuters.com
Frank De Maria, Reuters
Tel: +1 646 223 5507, Mobile: +1 917 215 4484
Email: frank.demaria@reuters.com
About Reuters:
Reuters (www.reuters.com), the global information
company, provides indispensable information tailored for professionals in the financial
services, media and corporate markets. Through reuters.com and other digital properties,
Reuters now also supplies its trusted content direct to individuals. Reuters drives
decision making across the globe based on a reputation for speed, accuracy and independence.
Reuters has 16,900 staff in 94 countries, including 2,400 editorial staff in 196
bureaux serving 131 countries. In 2006, Reuters revenues were £2.6 billion.
About Starmine:
StarMine (www.starmine.com) provides independent,
objective ratings of securities analysts around the globe by measuring their stock-picking
performance and the accuracy of their earnings forecasts. StarMine helps professional
investors extract more value from broker research and fundamental equity data in
less time by identifying the analysts that add value, forecasting potential earnings
surprises and shortfalls, evaluating earnings quality, and alerting investors to
the most important developments on stocks they follow. A privately held company
founded in 1998, StarMine is based in San Francisco with offices in New York, London,
Paris, Boston, Chicago, Hong Kong, and Tokyo. StarMine had gross assets of $16.3
million as of June 30, 2007.
This press release may be deemed to include forward-looking statements relating to Reuters within the meaning of the United States Private Securities Litigation Reform Act of 1995. Certain important factors that could cause actual results to differ materially from those disclosed in such forward-looking statements are described in Reuters Annual Report and Form 20-F 2006 under the heading ‘Risk Factors’ and Reuters Interim Results press release dated 27 July 2007 under the heading ‘Forward-looking Statements’. Copies of the Annual Report and Form 20-F 2006 and Interim Results press release are available on request from Reuters Group PLC, South Colonnade, Canary Wharf, London E14 5EP. Any forward-looking statements made by or on behalf of Reuters speak only as of the date they are made, and Reuters does not undertake to update any forward-looking statements.
ENDS