Capital IQ, a Standard & Poor's business, today announced that it has agreed to acquire a copy of the Reuters Estimates and the Reuters Research-on-Demand databases, as well as training materials, source documents and other related assets and services from Thomson Reuters, subject to certain third party consents.
The agreement accelerates Capital IQ's own estimates database project and launches Capital IQ into the aftermarket research market place. The acquisition rounds out Capital IQ's data offering adding another piece in its comprehensive global analytical solution.
"The addition of the Reuters database content to our platform speaks to our ongoing commitment to offer the very best in research content and tools while strengthening our ability to provide quality research and estimates data to all our clients" said Randall Winn, Executive Managing Director of Capital IQ. "We currently have over 370 leading sell-side firms, including many top investment banks and brokerage houses, contributing their content to Capital IQ. We are committed to making a smooth transition for any new contribution relationships and we are extremely excited to have two new databases to provide to our clients."
This sale is being made by Thomson Reuters to meet certain regulatory requirements of the European Commission (EC) and US Department of Justice (DOJ) in connection with Thomson's acquisition of Reuters, which closed on April 17, 2008, and was approved by both agencies under those requirements. Thomson Reuters will retain ownership of the databases and related assets, and no changes will be made to its business as a result of the sale. Capital IQ is currently a third-party redistributor of Reuters Estimates and Reuters Research-on-Demand and will continue to redistribute these databases after the acquisition.
In addition, Thomson Reuters will provide certain transitional services to Capital IQ for a period after closing. These include content updates for the transferred databases, provision of estimates and aftermarket research content for redistribution, and various other services that will aid Capital IQ's integration of the databases into its current platform and data feed offerings.