Full Description

Thomson Reuters Corporation (Thomson Reuters), formerly The Thomson Corporation (Thomson), incorporated on December 28, 1977, is a provider of information for the world’s businesses and professionals. The Company is organized in two divisions: Markets, which consists of its financial and media businesses, and Professional, which consists of its legal, tax and accounting, healthcare and science businesses. The Markets division serves financial services and corporate professionals globally, with Reuters Media serving the professional and consumer media markets. Major brands include Reuters, Kondor, DataScope, PORTIA, Omgeo, Lipper, I/B/E/S, First Call, Reuters Knowledge, Datastream and Thomson One. The Professional division consisted of its businesses in the Legal, Tax & Accounting, Scientific and Healthcare sectors. Major brands include Westlaw, LIVEDGAR, ONESOURCE, Derwent World Patents Index, Thomson Pharma, Web of Science, Medstat and Solucient.

On April 17, 2008, Thomson completed the acquisition of Reuters Group PLC (Reuters), forming Thomson Reuters. Thomson Reuters operated under a dual listed company (DLC) structure and had two parent companies, Thomson Reuters Corporation and Thomson Reuters PLC. In September 2009, Thomson Reuters announced that it has completed the unification of its DLC structure. In October 2009, the Company's Tax & Accounting business completed the acquisition of the Abacus Enterprise suite of products and related business operations from Deloitte LLP. In addition, in October 2009, the Company acquired Hugin Group BV from NYSE Euronext.

In July 2009, Intrepid Equity Finance Ltd. announced the acquisition of Streamlogics Inc., a provider of Webcasting applications and services in North America, by Thomson Reuters. Intrepid Equity is the manager of Intrepid Business Acceleration Fund LP, an equity investor in Streamlogics. On July 1, 2009, the Company acquired an online content provider, Indlaw Communications, which runs its flagship Internet site indlaw.Com. In August 2009, the Company acquired Vhayu Technologies, a provider of enterprise tick data solutions with over 70 customers worldwide. Thomson Reuters has been distributing Vhayu's Velocity technologies under the Reuters Tick Capture Engine label.

Markets

The Markets division consists of the Company’s Sales & Trading, Investment & Advisory, Enterprise and Media businesses. Sales & Trading provides a combination of information, trading and post-trade connectivity requirements for the trading floor activities of buy-side and sell-side clients in foreign exchange, fixed income, equities and other exchange-traded instruments, as well as in the commodities and energy markets. As of December 31, 2008, Sales & Trading provided services to approximately 200,000 professionals in approximately 34,000 locations worldwide. Sales & Trading’s desktop information product is Reuters 3000 Xtra. Reuters 3000 Xtra users are financial markets professionals who require a combination of global, cross-asset news and content combined with pre-trade decision-making, analytics and trade connectivity tools. As at December 31, 2008, there were approximately 125,000 Reuters 3000 Xtra accesses.

Sales & Trading’s suite of products allow customers to trade with each other and connect their systems to electronic markets. Products include Dealing on Reuters, Spot Matching on Reuters, Reuters Trading for Foreign Exchange, Reuters Trading for Fixed Income and Reuters Trading for Exchanges. Reuters Messaging is an online messaging and chat room service, which facilitates business activity by exchanging real-time market insight. Reuters Messaging included approximately 130,000 market professionals as of December 31, 2008. Reuters Trader is a financial desktop that provides analytics and trade connectivity for sales and trading professionals who need cross-asset data for global markets, but are primarily focused on a regional market. Tradeweb’s global multi-dealer-to-client trading platform connected approximately 35 investment banks with over 2,500 institutional clients as of December 31, 2008. The Company’s suite of electronic trading solutions for equities includes AutEx, which is used globally for communicating pre-trade and order execution services between brokers and their buy-side trading partners.

Investment & Advisory offers differentiated analytics, content and workflow tools that drive financial decision making of customers in corporate services, investment management, investment banking and wealth management. Investment & Advisory’s global content includes fundamentals, estimates, economics, broker research, deal data, fixed income and mutual fund data. The Company’s Corporate Services business provides companies worldwide with access to institutional information from across the Markets division, such as Reuters News, First Call, StreetEvents, AutEx and Datastream. Thomson Reuters provides investor relations (IR) professionals with an integrated platform that includes market and competitive analysis, ownership analysis, communications, disclosure and access to their community of peers and investors. It also offers online communications solutions.

The Company’s Investment Management business provides investment firms and hedge funds worldwide with a range of customizable products and services that enable them to manage and execute each phase of the investment process, including research and analysis, investment decisions and stock selection. The Company provides reference and fundamental data, including through I/B/E/S, First Call, Reuters Estimates, StarMine, Investext, Worldscope, Lipper, StreetEvents and SDC Platinum. Some of the brands and product categories offered under Investment & Advisory include ThomsonONE.com Investment Banking, SDC Platinum, Thomson ONE Investment Management, IR solutions, Business Intelligence solutions, Corporate Communications services, Thomson ONE Wealth Management, Reuters Knowledge Direct API for Wealth Management, eXimius, BETA Systems and Lipper.

The Company’s Enterprise business enables automation for financial institutions globally, targeting the full trade lifecycle, trade and risk management and portfolio accounting. Enterprise information products include real-time instrument prices, price histories, high-volume tick-by-tick trading data, evaluated pricing, terms and conditions, corporate actions and analytics. Major brands include Reuters DataScope Real-Time, Reuters Data Feed Direct, Reuters NewsScope, Reuters Market Data System, Kondor+, PORTIA and Omgeo. Reuters DataScope Real-Time provides real-time data that is used by electronic and algorithmic traders, brokers, hedge funds, fund managers and risk and compliance officers. Through Datascope, Thomson Reuters provides pricing and reference data to the buy-side, sell-side, global custodians, fund managers, hedge funds and data management solutions providers. Its Reuters Market Data System (RMDS) is a middleware product for trading rooms. PORTIA allows money managers, hedge funds, insurance companies, bank trusts, plan sponsors, and corporate treasury departments to manage their middle and back office reporting and decision support requirements.

Reuters is the Company’s news and media brand. Reuters Media provides news and information tailored for media and business professionals. Reuters News provides media companies with text, pictures and video through its wholesale news service. The Company’s digital multimedia products offer online reports, online video and online pictures for digital platforms. Consumer Publishing products include the advertising supported, direct-to-consumer publishing activities of Reuters.com and its global network of Websites, mobile services, online video and electronic out-of-home displays. The Company’s Professional Publishing’s suite of products and services address capital markets information needs, including the weekly in-depth coverage of International Financing Review (IFR), the searchability and functionality of its online products, and realtime, minute-by-minute commentary and analysis of IFR Markets.

The Company competes with Bloomberg, Sungard, Telekurs, IDC, Markit, SuperDerivatives, Quick, Xinhua Finance, Yahoo! Finance, Fidessa, ICAP, FXall, MarketAxess, Factset, S&P,Morningstar, GL Trade, SunGard Data Systems, Broadridge Financial Solutions, NYSE Euronext, IBM, Algorithmics, Murex, Misys, Calypso, Eagle, Simcorp Dimension, PAM, Beauchamp, DST, Associated Press, Agence France-Presse, Dow Jones, WSJ.com, Forbes.com, CNNMoney, FT.com, Euromoney and Informa Global Markets.

Professional

The Company’s Legal segment is a provider of information, decision support tools and services to legal, intellectual property (IP), compliance, business and government professionals worldwide. Thomson Reuters offers a range of products and services that utilize its electronic databases of legal, regulatory and business information. Major brands include West, Westlaw, Westlaw Litigator and Westlaw Business. Westlaw is the Legal segment’s primary online delivery platform. Westlaw offers search features and navigation tools that enable customers to search relevant databases to find specific points of law, build tables of authorities or search for topically related commentary. Westlaw includes KeyCite, an online citation research service that traces the history of a case, statute, administrative decision or regulation to determine if it is still authoritative.

Through Westlaw Business, Thomson Reuters provides corporate and transactional lawyers with services for preparing and completing commercial transactions, such as securities offerings, mergers and acquisitions and investment management. Westlaw Business includes LIVEDGAR securities filing content. Thomson Reuters also provides country-specific versions of Westlaw in Canada, China, Denmark, Ireland, Japan, Hong Kong, Spain and the United Kingdom. Its West business publishes cases, statutes and other legal information and enhances them with headnotes, synopses, key numbers and other editorial annotations prepared by the staff of attorneys and editorial professionals.

Tax & Accounting is a provider of technology and information solutions, as well as integrated tax compliance software and services to accounting, tax and corporate finance professionals in accounting firms, law firms, corporations and government agencies. Research & Guidance delivers integrated information-based solutions, guidance, workflow tools and continuing professional education (CPE) to tax and accounting professionals in the professional, corporate, legal, government and academic markets. Professional Software & Services delivers software and online products and services that provide business automation solutions for accounting firms in the areas of tax compliance, firm management and client services. Corporate Software & Services delivers integrated online software and managed services that helps automate taxation and corporate compliance for corporate, legal, bank and trust markets regarding income tax, property tax, trust tax and sales and use tax. Its flagship product, ONESOURCE, is an online portal that enables corporate tax departments to access tools, manage their workflow and keep track of vital information.

Scientific’s information-based solutions provide academic, government, corporate and pharmaceutical research and development professionals with content and technologies that assist them in all stages of the research and development cycle from scientific discovery to product release. Major brands include ISI Web of Knowledge, Web of Science, Thomson Pharma, Thomson Innovation, Derwent World Patents Index and Prous Integrity. Scientific’s Pharma businesses provide drug-specific information for all stages of the product lifecycle to customers in the fields of biology, chemistry, licensing, business development and competitive intelligence.

The Company’s Healthcare business is a provider of decision support solutions that help organizations across the healthcare industry improve clinical and business performance. Major brands include Micromedex, Medstat Advantage Suite and Solucient.

The Company competes with Reed Elsevier, Wolters Kluwer NV, Intuit, MLM Information Services, LLC, BNA, Chemical Abstracts Services (CAS), Premier, UnitedHealth Group, Inc. and McKesson Corporation.