Thomson agrees $43 million bid for NewsEdge
07 August 2001 | 3170 views | 0
The Thomson Corporation is to acquire information management company NewsEdge for approximately $43 million.
Under the terms of the agreement, a newly formed Thomson subsidiary will make a cash tender offer for all of the shares of NewsEdge common stock, at a price of $2.30 per share, or approximately $43 million, which includes cash in the business.
Brian Hall, president and chief executive officer of Thomson Legal & Regulatory, says: "NewsEdge...provides an important complement to our news and current awareness services, and enhances our position in the business news and corporate market segments."
NewsEdge currently provides content aggregation services to approximately 1500 corporations and professional service firms worldwide. Thomson plans to align NewsEdge with The Dialog Corporation, a provider of online information services for business, science, engineering, finance and law professionals, as part of the Thomson Legal & Regulatory market group. NewsEdge will continue to be run by its current management team, headed by president and CEO Clifford Pollan.