Blackstone acquires majority stake in Thomas Reuters Financial & Risk Business

By Pouyan Broukhim

New York-headquartered Blackstone has announced that it has entered into a definitive agreement with Thomas Reuters, acquiring a 55% stake in the company’s Financial & Risk (F&R) business.

Thomas Reuters F&R is a leading financial statistics firm, providing data, analytics and trading information to Wall street and financial professionals globally.

See also:

The deal consists of a consortium, led by Blackstone, with both the Canadian Pension Plan Investment Board (CPPIB) and GIC having entered into the agreement with Thomas Reuters.

“The F&R division has tremendous assets, including a world-leading data business, essential risk and compliance solutions, OTC trading venues, wealth management software, and a strong desktop business,” said Martin Brand, a Senior Managing Director at Blackstone.

“The partnership with Blackstone provides an opportunity to increase efficiency and accelerate revenue growth through innovation and focus on creating uniquely compelling products for F&R’s customers.”

The deal, valued at $17bn, is Blackstone’s biggest financial investment in approximately a decade, marking a significant move into the financial analysis industry.

Thomas Reuters will retain the remaining 45% stake in business, receiving $3bn in cash and $14bn of debt and preferred equity, with the transaction expected to close in the H2 2018.

Share

Featured Articles

How Elon Musk pulled off a $44bn hostile takeover of Twitter

As the world’s richest man, Elon Musk, takes over tech giant Twitter, we highlight the timeline that led to this titanic takeover

Amazon, Alphabet, Wells Fargo best workplaces, says LinkedIn

The top 50 workplaces to grow careers prioritise flexible work and tuition-support programs, as top-ranking firms Amazon and Alphabet prove, says LinkedIn

Top 10 women in technology in the US

These 10 women in tech are forging a path into bold areas of innovation and technological ambition, according to sister publication Technology Magazine

8 executive moves to crypto – from mainstream to startup

Technology & AI

Digital Twins tech ‘missing link’ in urban decarbonisation

Technology & AI

The Metaverse Foundry from Infosys is a business playground

Technology & AI