Thomson Reuters is to acquire compliance information resource Complinet. Terms of the deal, expected to close in the second quarter, were not disclosed.
Founded in 1997, Complinet is based in London and has 200 employees. In March 2008, the firm closed on a $37m investment from Fidelity Equity Partners to expand into Apac and enhance product offerings. The company now serves 1900 clients from offices in New York, London, Sydney, Singapore and Dubai
Announcing the deal, Thomson Reuters chief Tom Glocer says: "Across the globe, our customers are increasingly focused on information and software solutions that address their needs in governance, risk and compliance. The acquisition of Complinet, when coupled with the deep resources of our existing legal and financial services businesses, will take Thomson Reuters to a leadership position in this fast-growing marke."
Chris Pilling, Complinet CEO and founder, will continue to lead the firm, and will report to Peter Warwick, chief executive officer of Thomson Reuters, Legal.