AFX News
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| Fate | Merger with Reuters Group plc |
|---|---|
| Successor | Thomson Reuters |
| Defunct | April 2008 |
Thomson Financial was an arm of information provider Thomson Corporation. When The Thomson Corporation merged with Reuters to form Thomson Reuters in April 2008, Thomson Financial was merged with the business of Reuters to form the Markets Division of Thomson Reuters.
Thomson Financial made significant growth when it acquired another financial information provider Primark on June 6, 2000, for $842 million in an all-cash deal. Primark owned many names familiar in both the U.S. and UK/Europe such as Datastream, Intellivate Capital Ventures (ICV), and IBES. The acquisition consolidated and combined competing financial information provision, for example the FirstCall and IBES earnings estimate data, under the same company.
On 17 April 2008 The Thomson Corporation merged with Reuters and created the new company Thomson Reuters. Thomson Financial and Reuters combined their businesses into the Markets Division: Sales & Trading, Enterprise, Investment & Advisory, and Media. The other Thomson operations were combined into the Professional Division: Legal, Healthcare & Science, and Tax & Accounting.
Thomson Financial had many offices across the US, Europe, and Asia Pacific regions. The head office was based in Boston (1987-2008) and New York (joint with Boston), with significant presence in San Francisco, London, Frankfurt, Bangalore, Manila, and many satellite offices in locations such as Sydney, Hong Kong, Tokyo, Zurich, Geneva, just as some examples. The two major data centers, not including smaller points of presence, for Thomson Financial were located in NYC and New Jersey.
In June 2007, Thomson Financial agreed to buy seven Asia-Pacific news bureaus from Xinhua Finance. The bureaus purchased were in Tokyo, Manila, Jakarta, Kuala Lumpur, Singapore, Sydney and Seoul. Xinhua Finance stated they would retain their operations in Beijing, Shanghai, Hong Kong and Taipei. Financial terms were not disclosed.
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