Thomson Reuters Acquires Highline Financial
Meeting the Markets Need for More Robust Financial Institution Analytics
Thomson Reuters (NYSE: TRI) (TSX: TRI) today announced it acquired Highline Financial, a financial information and analytics provider focused on the US banking sector. The acquisition supports Thomson Reuters strategy of providing timely, accurate and high quality information by expanding its offering to include differentiated financial content and analytics for the banking and capital markets sector.
Market dynamics are creating a strong need for deep data and analytics as the financial sector experiences a tremendous level of new regulatory oversight, post crisis performance monitoring, bank closures and overall industry consolidation. The combination of Thomson Reuters and Highline Financial will provide Thomson Reuters clients with access to Highline Financial's comprehensive public company and regulatory database which comprises 20 years of historical data covering 20,000 financial institutions, with over 24,000 filed and calculated financial data points and ratios maintained in the system on a daily basis. Highline Financial clients will benefit from having access to the depth and breadth of Thomson Reuters global content, support and infrastructure. The information will be available on Thomson Reuters Eikon, Thomson Reuters recently launched next-generation desktop, in 2011.
"The recent turmoil in the markets makes access to financial data more important than ever to our clients," said Neil Masterson, Global Head of Investment Banking, Thomson Reuters. "With the acquisition of Highline Financial, Thomson Reuters can provide the banking and capital markets sector with the financial industry-specific analytics they need to drive deal activity."
"This acquisition will create a significantly larger financial information and analytics platform for Highline Financial by enabling the company to leverage Thomson Reuters global reach and expertise to better serve its clients," said Terry Waters, President & CEO, Highline Financial. "Both companies are committed to providing the most timely, accurate and complete financial information available and the combination of the two creates an industry leader in this space."
Highline Financial is a portfolio company of Spire Capital Partners.
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, 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. For more information, go to http://www.thomsonreuters.com.
Highline Financial is the preferred source of banking information and analytics with decades of experience serving the financial industry. Our mission is to deliver the highest quality and most relevant banking information and analytics solutions that enable our clients to manage financial risks and make profitable investment decisions every day, at a lower cost of ownership. We do this by combining our focused industry expertise in banking with best of breed industry partnerships to fulfill the real-time strategic needs of executives, business leaders and analysts in financial institutions, corporations and public sector agencies. For more information visit http://www.highlinefi.com.