SAVVIS, Inc. (NASDAQ:SVVS), a global leader in IT infrastructure services for business applications, today announced a one-year extension of its master services agreement with Thomson Reuters that includes the deployment of IT infrastructure services in Asia.
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals with a significant portion of its revenue derived from electronic products, software and services. Since The Thomson Corporation and Reuters Group PLC combined to form Thomson Reuters early this year, Thomson Reuters now has 50,000 global employees and serves customers in 93 countries.
Under terms of the agreement, SAVVIS will continue to serve as an approved vendor to provide managed hosting and managed network solutions to support a wide range of Thomson Reuters products and services. This includes the management of IT infrastructure solutions required for the collection of exchange data for Thomson Reuters market data services worldwide, as well as managed hosting services that underpin the flagship ThomsonReuters.com website.
In addition, under the agreement, SAVVIS will provide managed hosting services delivered from SAVVIS' Singapore data center supporting Thomson Reuters expansion activities in Asia. SAVVIS currently provides network and hosting services for Thomson Reuters. The extension of the agreement creates new opportunities for the companies to work and grow together.
"Reuters has been a valued partner of SAVVIS for many years and the recent merger with Thomson is an exciting development," said Phil Koen, SAVVIS Chief Executive Officer. "Its combined heritage makes Thomson Reuters one of the worlds' most respected and recognized information companies for the financial services, media, and corporate markets. Their premier market data and web content services continue to expand globally and we look forward to providing next generation managed IT infrastructure services to support their continued growth."
"The combined Thomson Reuters organization is now able to benefit from buying both network and hosting services under a single Master Services Agreement with SAVVIS," said Richard Warley, International Managing Director at SAVVIS. "We will continue to provide both of these services in the main geographies in Europe, North America and Asia. As Thomson Reuters continues through its integration plan we anticipate being able to deliver further cost and operational benefits through use of our virtualized hosting and global VPN services."
Separately, SAVVIS, a global leader in IT infrastructure services for business applications, is to provide a proximity hosting service, offering access to the London Stock Exchange for member firms, hedge funds, market data vendors and the automated trading community.
The solution enables faster access and lower latency connectivity to the London markets. Existing members and new customers can now host at SAVVIS' London docklands data centre and connect via their high speed Extranex network to the London Stock Exchange.
SAVVIS' Proximity Hosting solution will scale to meet the demands of rapidly rising trading volumes and can provide a key competitive advantage for algorithmic trading applications.
The low latency solution also gives clients the full advantage of the London Stock Exchange's new Infolect and TradElect platforms that deliver both high speed market data feed and low latency trading access.
"Firms connecting and trading on the major financial exchanges measure success in milliseconds," said Richard Warley, International Managing Director for SAVVIS. "With SAVVIS' heritage in the financial services market, we are well positioned to support the London Stock Exchange member firms and respond to the rise in trading volumes on the London markets."
Commenting on the low latency service from SAVVIS, Wendy Morgan, Head of Real-Time Data at the London Stock Exchange said, "As trading volumes grow and latency becomes more crucial, it is essential that our customers have a wide variety of options when choosing to connect to the London Stock Exchange's markets. We therefore welcome SAVVIS' investment in this service as it increases the number of direct participants in our markets."