Thomson Reuters buys Russian energy info provider Kortes

Source: Thomson Reuters

Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, today announced that it is expanding its insight into Russian commodity markets with the acquisition of Kortes, a primary Russian energy information provider that specializes in oil, petrochemical, and transportation industry content across the markets of the Russian Federation and Commonwealth of Independent States (CIS).

This new intelligence will be incorporated into the Company's flagship financial markets desktop Thomson Reuters Eikon.

Russia is one of the world's largest crude oil producers and represents a significant commodities and energy market. The acquisition of Kortes enables Thomson Reuters to provide its clients with well-known and established market data and analytics on the Russian and CIS markets. Kortes complements Thomson Reuters existing offering by providing additional insight on local markets and covers a much broader spectrum of the oil, petrochemical and transportation industries which is of value to locally and regionally-focused financial professionals. Furthermore, the addition of Kortes' team of expert analysts will bring critical local knowledge and expertise to Thomson Reuters.

"The acquisition of Kortes demonstrates our commitment to providing our clients both in Russia and across the globe with unrivalled insight into key Russian markets via our flagship desktop Thomson Reuters Eikon," said Basil Moftah, managing director for the Middle East, Africa and Russia / CIS, Thomson Reuters. "The acquisition continues our strategy to employ expert analysis to deliver the insight that enables our clients to quickly tune in market signals across large volumes of market data. We have a clear vision for growing and investing in the Kortes business that will result in an improved and diversified line of services across the Russia and CIS region for a broader group of clients."

Established in 1991, Kortes has provided intelligent industry content such as spot prices, company fundamentals, news and industry commentary to a wide range of clients including Russian and global oil companies, producers and refiners, oil distributors, independent traders, news agencies and state organizations.

Thomson Reuters Eikon is designed to provide a powerful and intuitive next-generation solution for consuming real-time and historical data, connecting with the financial markets community and executing financial markets transactions across asset classes such as foreign exchange (FX), fixed income, commodities, equities and derivatives. It realizes Thomson Reuters vision for a financial markets desktop that is intelligent, simple and social and provides access to a messaging community of over 200,000 financial professionals. Driven by powerful search engine technology, Eikon carries data, news, charts, insightful commentary, analytics and trade execution tools through views that can be customized to individual user preferences and workflow.

Terms of the agreement were not disclosed. 

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