NASDAQ OXM Group is buying Thomson Reuters Corp’s investor relations, PR and multimedia unit in a deal worth nearly $400M in cash.
The TR operation provides analytics and insight to more than 7,000 clients in 60 countries. It will be folded into NASDAQ’s corporate solutions unit.
Bob Greifeld, CEO of NASDAQ OXM called the deal “a significant milestone for this organization and it firmly underscores our long-term commitment to the corporate solutions business and our strategy to grow a portfolio of stable, recurring-revenue businesses.”
TR’s PR business includes online tools to identify and communicate with media targets/influencers, and monitor any resulting coverage. It markets a self-service press release platform and media contacts database.
TR’s IR services, which generate subscription-based revenue, include the ThomsonONE IR desktop, advisory offerings and website hosting.
The acquisition, according to Greifeld, “represents a distinct opportunity to create a truly differentiated client experience through premier content and best in class platforms.”
Combined with NASDAQ’s corporate solutions expertise, Greifeld, promises to “create best of breed products, technologies and service model.”
NASDAQ expects to complete the $390m acquisition during the first-half of 2013.