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Thomson completes its acquisition of Reuters

By , agencyfaqs!, New Delhi | In Media Publishing | April 18, 2008
Reuters began to supply regular news from and about India in 1858

The Thomson & #BANNER1 & # Corporation has completed its acquisition of Reuters Group PLC, forming Thomson Reuters. In the process, Thomson Corp. has become the world's leading source of business and professional information in the financial, legal, tax and accounting, scientific, health care and media markets.

As a result of the acquisition, Thomson Reuters has more than 50,000 employees with operations in 93 countries in six continents and it boasts of revenues to the tune of US$12.4 billion.

Thomas H Glocer, chief executive officer of Thomson Reuters, said, "This is a very exciting day for our shareholders, customers and employees. We call our information 'intelligent' because it is not only insightful, highly relevant and timely, but it is also made available in formats which applications can consume and to which they can add further value."

He added, "Thomson Reuters will benefit from the value created by more diversified revenue streams, a larger capital base and synergies resulting from the acquisition. Our leadership position and global footprint will give us opportunities to grow faster than either Thomson or Reuters could have on its own."

Thomson Reuters has unveiled its new branding and a global advertising campaign. "The dynamic new corporate identity is a marked departure from the historical look and feel of the two companies and represents Thomson Reuters' positioning as the world's leading source of intelligent information to businesses and professionals," explained Glocer, while unveiling the new branding and campaign.

Thomson Reuters has announced the possibility of repurchasing up to US$500 million of its shares over the course of the year. "Our plans to buy back Thomson Reuters shares underscores our financial strength and focus on shareholder value," added Glocer.

In India, Thomson Reuters has seven key offices, employing more than 5,000 people. It was way back in 1858 that Reuters began to supply regular news from and about India; it set up its first news bureau here in 1866. Today, Thomson Reuters operations in India include functions such as customer services, sales, editorial, content operations, finance and technology.

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