UK news and information group Reuters has signed an agreement to acquire San Francisco-based StarMine, a privately-held provider of analytics, equity research tools and performance ratings to securities analysts.
Founded in 1998, StarMine also has offices in New York, London, Paris, Boston, Chicago, Sydney, Hong Kong and Tokyo. The company's analytics and equity research management tools are used by over 350 investment firms.
Reuters says it plans to retain and continue to work with the existing StarMine management team and workforce and will invest in StarMine's decision-support technology.
"StarMine brings a unique set of tools, skills and capabilities that complement our existing, highly-regarded research and asset management product portfolio," says Michael Peace, global head of research and asset management, Reuters. "In particular, StarMine's advanced analytics will provide an exciting new level of functionality to our Reuters Knowledge offering."
Peace says StarMine will also be a strong complement to Thomson's offerings following Reuters' proposed merger with the Canadian company.
Financial terms of the all cash transaction were not disclosed.