Thomson Financial has acquired WorldStreet Net instant messaging and collaboration technology assets from WorldStreet Corporation for an undisclosed sum.
WorldStreet Net is an Internet-based, peer-to-peer network solution built on Microsoft's .NET platform, allowing a closed community of securities professionals to share pre-trade information and ideas in real-time. Through personalisation and customised filtering, members receive only the information that is relevant to their specific interests and needs.
Thomson Financial says it will incorporate the technology across its First Call Analyst and ILX product lines.
Scott Rosen, senior vice president of Thomson’s Investment Management Group, comments: “By leveraging WorldStreet’s technology, we will be able to develop innovative solutions that will further support the way our clients conduct their business. In particular, structured communication and instant messaging are key components of our community building efforts, and the acquisition of WorldStreet Net will greatly accelerate the realisation of that strategy.”
A number of key technology specialists from WorldStreet have joined Thomson Financial to ensure a smooth transition.