Reuters is looking for a buyer for its two research subsidiaries, TowerGroup and Yankee Group, as part of its efforts to concentrate on its core financial news and information services.
In a newswire statement, Reuters' spokesman Kyle Arteaga, says: "Reuters is undergoing a significant transformation of its business and in order to focus fully on this initiative we are divesting noncore assets, which at this time include TowerGroup and Yankee Group."
Reuters acquired financial services research house TowerGroup in 1999 and technology analyst Yankee Group in 2000. Between them the two companies employ 137 staff.