Profile: Thomson Reuters Corp (TRI.N)
9 Dec 2013
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. At the Company’s Corporate center, it manages Reuters, the international news agency, which is a provider of real-time, high-impact, 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. In January 2013, Ryan acquired Thomson Reuters Property Tax Services (PTS) business. 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 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 announced that it has acquired Pricing Partners SAS, a software developer and provider of OTC (over-the-counter) 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, a software development company. Effective August 29, 2013, Thomson Reuters acquired WeComply Inc. Effective September 3, 2013, the Company 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.
On January 12, 2012, the Tax & Accounting business of Thomson Reuters acquired Dr Tax. On February 1, 2012, Vista Equity Partners acquired Thomson Reuters Trade Risk Management business. On February 13, 2012, the Company acquired RedEgg. In May 2012, SS&C Technologies Holdings, Inc. acquired the assets of Thomson Reuters' PORTIA business, including a middle-to-back office investment operations platform. On June 1, 2012, it acquired the mutual fund database of The Globe and Mail (The Globe). In June 2012, Veritas Capital acquired the healthcare unit of Thomson Reuters and rebranded the business as Truven Health Analytics. On June 25, 2012, the Company acquired Zawya Limited. In July 2012, the Company acquired Lex Nova, a provider of legal and labor information in the Spanish market. On August 20, 2012, Thomson Reuters, through its subsidiary, CB Transaction Corp. (CB), acquired FXall. On September 4, 2012, the Intellectual Property (IP) & Science business of Thomson Reuters, acquired MarkMonitor. During the year ended December 31, 2012, its governance, risk & compliance (GRC) enhanced the Accelus suite of products through its acquisition of Avanon.
Financial & Risk
The Company’s 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. Financial & Risk serves four end-user groups: trading, investors, marketplaces and GRC. During 2012, 86% of Financial & Risk’s revenues were from recurring sources, with the remainder primarily from transactions. Financial & Risk customers access its information, analytics and trading communities through its desktop solutions, datafeeds and mobile applications across a range of devices. Trading’s major brands include Thomson Reuters Eikon, Reuters 3000 Xtra, Thomson Reuters Elektron, Thomson Reuters Elektron Real Time, Thomson Reuters Enterprise Platform, Thomson Reuters Autex and Thomson Reuters Machine Readable News.
Thomson Reuters Eikon and Reuters 3000 Xtra are flagship desktop products providing pre-trade decision-making tools, news, real-time pricing, trading connectivity and collaboration tools. Thomson Reuters Elektron is a cross asset data and trading infrastructure. Thomson Reuters Elektron Real Time is a next generation real time datafeed. Thomson Reuters Enterprise Platform is a technology platforms that enable financial institutions to control real time information flows. Thomson Reuters Autex is a FIX order routing network. Thomson Reuters Machine Readable News is an advanced analytics for automating the consumption of news for automated trading strategies and portals.
The Trading business serves the financial community by enabling market participants to connect, access content and trade. Trading provides customers with a combination of feeds, analytics, transactions, desktop tools and technology infrastructure via the Thomson Reuters Eikon desktop and Thomson Reuters Elektron data and networking infrastructure. This combination of solutions supports the trading activities of buy-side and sell-side customers in foreign exchange (FX), fixed income and derivatives, equities and other exchange-traded instruments, and in the commodities and energy markets. Effective January 1, 2013, the Company transferred its FX desktop solutions from its Trading to its Marketplaces business. During 2012, within Eikon, it made advances in areas, such as search and visualization and added a range of new specialist content, analytics and tools, including its FX Buzz service. Thomson Reuters also added specialist content for commodities, such as energy research and forecasts weather insight, oil refinery data and launched Interactive Map, its visualization tool for the commodities supply chain. Eikon mobile applications were also launched for iPhone and iPad users. Eikon desktops totaled nearly 34,000, as of December 31, 2012.
The Company expanded its Elektron hosting facilities with new locations announced in Hong Kong and Brazil. The Company’s Elektron hosting infrastructure allows it to deploy specific client applications, offering access to its breadth of market data and data management capabilities in a managed service environment. Thomson Reuters Autex, its FIX order routing network, is a distributor of order indications and advertised trades, processing more than two million messages each day. Investors’ major brands include Thomson Reuters Eikon, Thomson ONE, Thomson Reuters Datastream, Thomson Reuters Deals Business Intelligence, Lipper and Thomson Reuters DataScope.
Thomson ONE is an integrated access to information, analytics and tools delivered within workspaces designed for each target customer’s workflow. Thomson Reuters Datastream is an historical time-series analysis that enables the visualization of economic and asset class trends and relationships. Thomson Reuters Deals Business Intelligence is an analysis and reporting tools for business planning, including performance, market share and targeting. Lipper provides mutual fund information, benchmarking data, performance information and analysis. Thomson Reuters DataScope is a data delivery platform for non-streaming cross asset class content globally.
The Investors business provides its buy-side and off-trading floor customers with information, analytics, workflow and technology solutions. Investors’ customers have direct, real-time access to the global content sets needed for intelligent decision-making, such as fundamentals, estimates, economic indicators, ownership data, broker research, deals data, equity and fixed income pricing and reference data for their middle and back offices for trade matching and settlement, risk management and analysis and portfolio evaluation. During 2012, Investors solutions provided pricing information on fixed income derivatives instruments and loans. Investors’ sources of content include I/B/E/S, Datastream, Lipper, StarMine, Extel, First Call, IFR and Reuters News.
Marketplaces’ major brands include Thomson Reuters Dealing, Thomson Reuters Matching, FXall and Tradeweb. Thomson Reuters Dealing is a peer-to-peer conversational trading product primarily related to FX and money markets. Thomson Reuters Matching is an electronic FX trade matching system, providing trading in spot and forwards FX and prime brokerage capabilities. FXall is a global electronic foreign exchange trading platform enabling FX price discovery, trade execution and pre-trade and post-trade automated workflow. Tradeweb is a global electronic multi-dealer-to-customer marketplace for trading fixed income, derivatives and money market products, which connects major investment banks with institutional customers.
The Marketplaces business operates electronic trading venues, which provide access to liquidity in over-the-counter markets, trade execution and connections for market participants and communities of financial professionals worldwide. Marketplaces also provide post-trade services globally, enabling banks, brokers and electronic marketplaces to connect with their counterparties. The Marketplaces business provides execution venues, insight and workflow solutions to the foreign exchange and fixed income trading community. Marketplaces operates electronic trading venues, which provide access to liquidity in over-the-counter markets, trade execution and connections for market participants and communities of financial professionals worldwide. Marketplaces also provide content, insight and connectivity to the community to enable market participants to make trading decisions through Thomson Reuters Eikon. Marketplaces also provide integrated workflow and order management solutions to manage pre and post-trade processes globally, enabling banks, brokers and electronic marketplaces to connect with their counterparties.
Major brands in GRC include the Thomson Reuters Accelus. The Thomson Reuters Accelus provides information-based governance, risk and compliance products and services. Target customers include corporate compliance, audit and risk management professionals, corporate and company secretaries, general counsel, business leaders, boards of directors and law firms.
The Company competes with Bloomberg, SunGard, Telekurs, IDC, Markit, SuperDerivatives, Quick, Xinhua Finance, NYSE Euronext, IBM, FactSet, S&P/Capital IQ, Morningstar, Broadridge Financial Solutions, Dow Jones, ICAP, MarketAxess, Wolters Kluwer Compliance Resource Network, CCH Team Mate, Protiviti, BWise, MetricStream, LexisNexis, Actimize, Diligent, BoardVantage, WebFilings and RR Donnelley.
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 solutions products and services include legal research solutions, software-based workflow solutions, compliance solutions, marketing, finance and operations software, business development and legal process outsourcing services. Legal is organized in three customer-focused businesses: the United States Law Firm Solutions; Corporate, Government and Academic, and Global Businesses. Legal’s major brands include Westlaw Classic, PLC, West LegalEdcenter, Sweet & Maxwell (U.K.), Carswell (Canada), Aranzadi (Spain), Brookers (New Zealand), La Ley (Argentina), Lawtel (U.K. and E.U.), Revista dos Tribunais (Brazil), Elite 3E, ProLaw, eBillingHub, MatterSphere and LawSoft. Its major brands include FindLaw, Super Lawyers, Case Logistix, Case Notebook, Drafting Assistant, West km, Thomson Reuters Expert Witness Services, 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 is also available through an iPad application and a mobile site. Its Westlaw product is known as Westlaw Classic. The Company 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, Thomson Reuters 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. PLC provides practical legal know-how, current awareness and workflow tools to law firms and corporate legal departments. Its 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.
The Company’s Legal business provides a complete suite of litigation solutions software, services 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 also offers customers in corporate legal departments leading matter management, e-billing, legal analytics and legal process outsourcing services. 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.
Legal competes with Reed Elsevier, Wolters Kluwer and Bloomberg.
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 businesses include Professional, Corporate, Knowledge Solutions and Government. Professional provides a suite of tax, accounting, payroll, document management, and practice management software and services to accounting firms. Corporate provides federal, state, local and international tax compliance, planning and management software and services to companies worldwide. Knowledge Solutions provides information, research and certified professional education tools for tax and accounting professionals. Government provides integrated property tax management and land registry solutions.
Tax & Accounting’s major brands include ONESOURCE, Checkpoint, Checkpoint Learning, Checkpoint World, CS Professional Suite, Enterprise Suite, Digita and Government Revenue Management (GRM). ONESOURCE is a global tax compliance solution with local tax tools in a number of countries to manage a company’s entire tax workflow. The software links an organization’s global staff, controllers and finance personnel with tax advisors and auditors on one system, supporting compliance across corporate income, indirect, property, trust, fringe benefits and other taxes and reporting requirements. ONESOURCE products and services, which can be sold separately or as a suite, include solutions for tax planning, tax provision, transfer pricing, tax return compliance, tax information reporting, accounts production, and overall workflow management.
Checkpoint is an integrated information solution delivering research, expert guidance, applications and workflow tools, as well as primary sources and third party content providers. Checkpoint Learning is an online platform for continuing professional education and training, integrating global research, courses and certification with credit-tracking capability for individuals and firms. Checkpoint World is an online offering combining global research, news and guidance on international tax and accounting practices to manage cross-border transactions. CS Professional Suite is an integrated suite of software applications, including products, such as UltraTax CS and Practice CS. Enterprise Suite includes solutions for tax preparation, engagement, practice management and document and workflow management, including GoSystem Tax RS and GoFileRoom. Digita is the United Kingdom tax compliance and accounting software and services. Government Revenue Management (GRM) is an end-to-end software and services to manage revenue through automated land and property tax administration.
The Company competes with Wolters Kluwer, Intuit, Corporation Services Company and Vertex.
Intellectual Property & Science
The Company’s Intellectual Property & Science business provides intellectual property (IP) and scientific information, decision support tools and services that enable 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. 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 enables discovery by providing access to the world’s critical research, as well as analytics.
Intellectual Property & Science’s major brands include Thomson IP Manager, Thomson Innovation, MarkMonitor, SERION, Thomson Reuters Web of Knowledge, EndNote, Research Analytics, ScholarOne, Thomson Reuters Cortellis, Life Sciences Professional Services, Thomson Reuters Integrity and Thomson Reuters MetaCore. Thomson IP Manager is an enterprise-level, configurable intellectual asset management solution for patents, trademarks, licensing agreements, invention disclosures and related IP matters. Thomson Innovation is an IP intelligence and collaboration platform with content, analysis and visualization tools and market insight. MarkMonitor is an online brand protection. SERION is a suite of trademark research solutions within a Web-based workflow environment for screening, searching and protecting brands globally.
Thomson Reuters Web of Knowledge is a platform that provides access to scholarly literature along with tools to search, track, measure and collaborate. EndNote is a research management solution for searching, collecting, organizing and sharing research. Research Analytics is a suite of solutions to evaluate and measure research performance, locate experts, promote accomplishments, demonstrate impact, define research strategies and guide decisions. ScholarOne is a peer-review workflow solutions that streamline and manage the submission, review, production, and publication processes. Thomson Reuters Cortellis is an integrated platform containing authoritative research and development (R&D) drug pipeline information, patents, deals, company information, breaking industry news, conference coverage and global regulatory intelligence.
Life Sciences Professional Services provides analysts with deep pharmaceutical and life science knowledge who apply disease understanding and patient needs to discovery, clinical development and launch. Thomson Reuters Integrity provides a detailed information for scientists and researchers that integrates biology, chemistry and pharmacology data to support drug discovery and development. Thomson Reuters MetaCore is an integrated software suite for analysis of microarray, metabolic, proteomics, siRNA, microRNA and screening data.
The Company competes with Wolters Kluwer, CPA Global, LexisNexis, Google, Minesoft, Reed Elsevier, Informa, IMS, Mendeley, RefWorks, ProQuest, EBSCO and Aries.
Global Growth & Operations
GGO works with the Company’s 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.
Reuters News with more than 2,800 journalists reporting from bureaus worldwide, delivers news in over 20 different languages that influences the world’s markets, media, companies and consumers globally. The Company 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 2012, it delivered 2.1 million news stories, nearly one million alerts, 680,000 pictures/images and 100,000 video stories. During 2012, the Company combined its editorial and media businesses into an integrated news organization.
The Company competes with the Associated Press, Agence France-Presse, Bloomberg and Dow Jones.
Thomson Reuters Corp
3 Times Square
NEW YORK NY 10036
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