Profile: Thomson Reuters Corp (TRI.N)
19 Dec 2014
Thomson Reuters Corporation (Thomson Reuters), incorporated on December 28, 1977, is a provider of information for the world’s businesses and professionals. It is organized in four business units: Financial & Risk, Legal, Tax & Accounting and Intellectual Property & Science. It also has a Global Growth & Operations (GGO) organization, which works across its business units. The Company also operates Reuters, which is a provider of real-time, multimedia news and information services to newspapers, television and cable networks, radio stations and Websites worldwide. Thomson Reuters’ corporate headquarters are located in New York, New York with key operations in the United Kingdom, India, Eagan, Minnesota and Stamford, Connecticut. It operates in over 100 countries. Effective April 4, 2014, Thomson Reuters Corp, a unit of Woodbridge Co Ltd, acquired Dominio Sistemas Ltda.
In February 2013, its Legal business unit acquired Practical Law Company (PLC). In April 2013, Thomson CompuMark, its Intellectual Property (IP) & Science business, announced the acquisition of the trademark business of Onscope. In April 2013 it also acquired T.Global. In June 2013, The NASDAQ OMX Group, Inc. acquired Thomson Reuters Investor Relations, Public Relations and Multimedia Solutions businesses, which provide insight, analytics and communications solutions. In June 2013, the Company acquired Pricing Partners SAS, a software developer and provider of over-the-counter (OTC) derivative pricing analytics and services for financial firms. Effective August 16, 2013, Thomson Reuters, a majority-owned unit of Woodbridge Co Ltd, acquired SigmaGenix Services Ltd, which is a software development company. Effective August 29, 2013, Thomson Reuters acquired WeComply Inc. Effective September 3, 2013, it acquired GoldTier Technologies LLC. In September 2013, the Company acquired Omnesys Technologies. Effective November 13, 2013, Thomson Reuters Corp majority owned by Woodbridge Co Ltd acquired Informatsionno-analiticheskiy tsentr KORTES, a provider of commercial economic research services. In November 2013, its Financial & Risk segment acquired BondDesk.
Financial & Risk
Financial & Risk provides critical news, information and analytics, enables transactions and brings together communities that allow trading, investing, financial and corporate professionals to connect. Financial & Risk also provides regulatory and operational risk management solutions. As part of its plan to operate as a more integrated business unit, the segment serves two customer segments: Financial and Risk. The Financial business includes its former Trading, Investors and Marketplaces units. The Company’s Risk business consists of its former Governance, Risk & Compliance business along with the pricing and reference services businesses formerly in the Investors unit. Financial & Risk customers access its information, analytics and trading communities through its desktop solutions, datafeeds and mobile applications across a range of devices.
The Financial business provides a range of offerings to buy- and sell-side financial market professionals. Financial’s major brands include Thomson Reuters Eikon, Thomson ONE, Thomson Reuters Datastream, Thomson Reuters Elektron, Thomson Reuters Elektron Real Time, Thomson Reuters Enterprise Platform, Thomson Reuters Dealing, Thomson Reuters Matching, FXall and Tradeweb. Financial & Risk’s flagship financial market desktop is Thomson Reuters Eikon. During the year ended December 31, 2013, the Company made advances and investments to Eikon, including advanced search and visualization, interactive maps and a range of new specialist content. Installed Eikon desktops totaled nearly 122,000, as of December 31, 2013. Financial & Risk also brings together financial market participants through Eikon Messaging, which is an instant messaging tool that facilitates messaging and the community needs of the financial markets and which has a membership of approximately 210,000 professionals.
Thomson Reuters Elektron is Financial’s trading and data infrastructure, which enables both its next generation real-time feeds and managed service solutions. Thomson Reuters Elektron delivers feeds from more than 400 exchange-traded and OTC markets, along with analytics, platform and transactional connectivity to support financial workflow applications. These capabilities can be deployed at a customer location or delivered as a fully-managed service from any one of its co-location and proximity hosting sites worldwide. Thomson Reuters’s foreign exchange (FX) business operates electronic trading venues, which provide access to liquidity in OTC markets, trade execution and connections for market participants and communities of financial professionals worldwide. It also provides post-trade services globally, enabling banks, brokers and electronic marketplaces to connect with their counterparties. During 2013, Financial launched a Swap Execution Facility (SEF) to provide customers with a workflow for trading regulated FX products.
The Financial business also provides its buy-side and off-trading floor customers with information, analytics, workflow and technology solutions. Offerings to these customers include global content sets for intelligent decision-making, such as fundamentals, estimates, economic indicators, ownership data, broker research and deals data. Its sources of content include I/B/E/S, Datastream, Lipper, StarMine, Extel, First Call, IFR and Reuters News.
The Company’s Risk business provides a suite of solutions designed to help its customers address pricing and valuation, regulatory compliance, reputational risk controls and operational risk controls. Risk’s major brands include Thomson Reuters Accelus and Thomson Reuters DataScope. The Thomson Reuters Accelus suite delivers integrated solutions to financial services and multinational institutions for global regulatory intelligence, financial crime prevention, anti-bribery, anti-money laundering and anti-corruption, know-your-customer and other enhanced due diligence, compliance management, internal audit, e-learning, risk management and board of director and disclosure services. The Thomson Reuters Accelus product provides Information- and software-based governance, risk and compliance products and services, which includes World-Check data.
During 2013, Risk launched Thomson Reuters for Foreign Account Tax Compliance Act (FATCA), which brought together technology already used by organizations worldwide to solve issues with regulatory compliance, tax documentation and tax reporting. The new solution enables organizations to identify, maintain and validate their customer records to assist in FATCA compliance. The Risk business also provides pricing information on fixed income derivatives instruments and loans.
The Company competes with Bloomberg L.P., FactSet Research Systems Inc, S&P/Capital IQ, SunGard Data Systems Inc, IDC, Telekurs, Dow Jones & Company, Inc., International Business Machines Corp (IBM), MarketAxess Holdings Inc, Wolters Kluwer Compliance Resource Network, CCH Team Mate, Protiviti, BWise, MetricStream, LexisNexis, Actimize, Diligent, BoardVantage, WebFilings, RR Donnelley & Sons Co, Interactive Data Corp and McGraw-Hill Financial Inc.
Legal is a provider of critical online and print information, decision support tools, software and services to support legal, investigation, business and government professionals worldwide. Legal offers a range of products that utilize its electronic databases of legal, regulatory, news, public records and business information. Legal’s products, services and solutions include legal research solutions; software-based workflow solutions; compliance solutions; marketing, finance and operations software, and business development and legal process outsourcing services. Legal is organized in three customer-focused businesses: the United States Law Firm Solutions; Corporate, Government & Academic, and Global Businesses.
Legal’s major brands include WestlawNext, Westlaw Classic, Sweet & Maxwell, Carswell, Aranzadi, Brookers, La Ley, Lawtel, Revista dos Tribunais, Practical Law, Elite 3E, ProLaw, eBillingHub, MatterSphere, LawSoft, FindLaw, Super Lawyers, Firm Central, Thomson Reuters Concourse and West LegalEdcenter. Legal’s major brands also include Case Logistix, Case Notebook, Drafting Assistant, Hosted Practice Solutions, West km, Thomson Reuters Expert Witness Services, C-Track Court Case Management, Thomson Reuters ProView, CLEAR, PeopleMap, Serengeti and Pangea3. WestlawNext is Legal’s primary global online delivery platform. WestlawNext offers content, search and research organization and team collaboration features and navigation tools that enable customers to find and share specific points of law, build tables of authorities and search for topically-related commentary. WestlawNext also is available through an iPad application and a mobile site. Its Westlaw product is known as Westlaw Classic.
Thomson Reuters provides localized versions of Westlaw for legal professionals in Australia, Canada, Chile, China, Hong Kong, India, Ireland, Japan, Malaysia, the Middle East, New Zealand, Spain, the United Kingdom and other countries. Legal also has online legal research services, some of which are sold under brand names other than Westlaw, in Argentina, Brazil, France, New Zealand, South Korea and the United Kingdom. Through Westlaw International, the Company offers its online products and services to customers in markets where it may not have an existing publishing presence or have not yet developed a fully customized Westlaw service.
Practical Law provides practical legal know-how, current awareness and workflow tools to law firms and corporate legal departments. Practical Law’s resources, such as its practice notes, standard documents, checklists and What’s Market tools, cover a range of practice areas in the United States and the United Kingdom, such as commercial, corporate, employment, intellectual property, finance and litigation. The Company is integrating Practical Law into other Thomson Reuters workflow-based products as part of Legal’s broader legal solutions strategy.
The Company’s Legal business also has products and services to support the client development and back office business functions of a law practice. These include online marketing and client development solutions for law firms, as well as integrated software applications to help professional service organizations with their financial and practice management, matter management, accounting and billing. Legal also provides customers in corporate legal departments with matter management, e-billing, legal analytics and legal process outsourcing services, as well as case management, document management, e-filing and collaboration tools for the courts.
Thomson Reuters’s Legal business provides a complete suite of litigation software, services, solutions and legal research tools that help lawyers during all phases of litigation, including case evaluation, document review, depositions, motion practice, expert witness selection and evaluation, and trial preparation. Legal offers customers in law enforcement, law firms and legal departments, as well as other investigative professionals, a suite of research tools used to find information on people, assets and entities, drawing from publicly available information.
The Company’s competes with Reed Elsevier PLC, Wolters Kluwer NV and Bloomberg L.P.
Tax & Accounting
Tax & Accounting is a global provider of integrated tax compliance and accounting information, software and services for professionals in accounting firms, corporations, law firms and government. Tax & Accounting’s major brands include ONESOURCE, Checkpoint, Checkpoint Learning, Checkpoint World, CS Professional Suite, Enterprise Suite, Digita and Aumentum.
Tax & Accounting’s businesses are: Corporate, Knowledge Solutions, Professional and Government. Corporate provides a suite of global and local tax compliance, workflow and data management software and services to corporations worldwide. Knowledge Solutions provides information, research and certified professional education tools for tax and accounting professionals. Professional provides a suite of tax, accounting, audit, payroll, document management, and practice management software and services to accounting firms. Government provides integrated property tax management and land registry solutions.
During 2013, Tax & Accounting expanded the Company's ONESOURCE offering by launching a mobile application to enable tax professionals to track the status of their e-filings from any mobile device. Tax & Accounting also launched a Checkpoint Pocket Assistant mobile application that includes a 2013 Tax Rate Guide, Individual Shared Responsibility Calculator and other tools for tax and accounting professionals to perform routine tasks from anywhere.
The Company competes with Wolters Kluwer NV, Intuit Inc, Corporation Services Company and Bloomberg L.P.
Intellectual Property & Science
The Company’s Intellectual Property & Science business provides intellectual property (IP) and scientific information, decision support tools and services to the governments, academia, publishers, corporations and law firms. Intellectual Property & Science is organized in three businesses: IP Solutions, Life Sciences and Scientific & Scholarly Research. IP Solutions provides patent, trademark and brand content and services to the corporate and legal IP professionals. Life Sciences helps pharmaceutical research and development by providing decision support information and analytics and professional services to pharmaceutical and biotechnology companies.
Scientific & Scholarly Research helps collaboration and enables scientific search and discovery by providing access to the world’s critical citation data, as well as benchmarking and analytics. Its Intellectual Property & Science’s major brands include Thomson IP Manager, Thomson Innovation, MarkMonitor, SERION, Web of Science, InCites, EndNote, Thomson Reuters Cortellis, Thomson Reuters MetaCore and ScholarOne.
The Company competes with Wolters Kluwer NV, CPA Global Limited, LexisNexis, CSC Global, Google Inc., Innography, Reed Elsevier PLC, IMS, RefWorks, ProQuest LLC, EBSCO Industries Inc and Aries.
Global Growth & Operations
The Company’s GGO organization works with its Financial & Risk, Legal, Tax & Accounting and Intellectual Property & Science businesses. Geographic areas that GGO is focused on include Latin America, China, India, the Middle East, Africa, the Association of Southeast Asian Nations/North Asia, Russia and countries consisting of the Commonwealth of Independent States (CIS) and Turkey. GGO also manages its nine global operations centers that provide services across Thomson Reuters.
Thomson Reuters provides exclusive interviews with business, political and economic leaders, in-depth coverage, agenda-setting commentary and analysis on company and industry trends, and other breaking news. During 2013, it delivered over two million news stories, nearly 900,000 news alerts, over 500,000 pictures/images and 100,000 video stories.
The Company competes with the Associated Press, Agence France-Presse, Bloomberg L.P. and Dow Jones & Company, Inc.
Thomson Reuters Corp
3 Times Square
NEW YORK NY 10036