Thomson Reuters On Acquisition Spree: Buys World Business Media In The Insurance Arena
Portfolio Pulse from Lekha Gupta
Thomson Reuters Corp (NYSE:TRI) has acquired World Business Media Limited, a provider of editorial coverage for the (re)insurance industry. The terms of the deal were not disclosed. The acquisition aligns with TRI's strategy to expand its news and insights into new professional markets. World Business Media will be integrated into the Reuters News division. TRI is also pursuing the full acquisition of Pagero Group AB and reported holding $2.5 billion in cash as of Q3 2023. TRI's Q4 & FY23 results will be announced on February 8, 2024. TRI's stock closed up 1.46% at $147.58.
January 17, 2024 | 12:01 pm
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Thomson Reuters Corp has acquired World Business Media Limited to enhance its news coverage in the insurance sector, aligning with its growth strategy. The company is also in the process of acquiring Pagero Group AB and will announce its Q4 & FY23 results soon.
The acquisition of World Business Media is likely to be viewed positively as it supports TRI's strategy to provide essential news and insights, potentially leading to revenue growth in new customer markets. The upcoming earnings report could also influence the stock price, but the positive price action suggests a favorable market response in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100