Information and news reporting giant, Thomson Reuters (NYSE: TRI) has announced that it has signed a definitive agreement to acquire global trade management (GTM) and operations company, Integration Point. Thomson Reuters has not disclosed the terms of the deal and the acquisition is subject to various regulatory approvals and closing conditions.
The company in its recent days has increased its focuses on strengthening its core operation that includes legal, tax, regulatory and media market. Recently Thomson Reuters has sold its 55 per cent interest in its Financial and Risk Division. The acquisition complements the company’s ONESOURCE global tax compliance operations and expands its commitment to software and cloud-based offerings.
Integration Point will enable Thomson Reuters to provide single scalable GTM platform and offer customers with an enhanced trade-management solution. Speaking about the acquisition, Jim Smith, President and Chief Executive Officer of Thomson Reuters said:
“The recent debate over trade agreements like TPP, the United States-Mexico-Canada Agreement and Brexit illustrate the complexity of multilateral trade and the related compliance requirements our customers face. This acquisition will further strengthen our offerings in the high-growth global trade management space and support our leading position at the intersection of regulation and commerce.”
Tom Barnes, CEO, Integration Point added:
“This year has been a record-breaking year for Integration Point across many fronts. As I look toward the future, I’m excited about the opportunities that will be created for our customers and for our team when combining Integration Point’s global platform and trade-compliance expertise with the Thomson Reuters brand, resources and global footprint.”
Following the close of the deal, Robert Bahash, Head of Business Development for the Corporates customer market for Thomson Reuters will lead the transition and operations and Tom Barnes will provide transitional support for an interim period of time.
Karthik Subramanian
Karthik Subramanian has been a professional trader and fund manager over the last 18 years. He is basically a software developer who made the transition to financial domain around 18 years back as the attractiveness of the financial markets proved too much for him. He lives in Chennai in India along with his wife and son. He began his career as a software developer in 1999 and then gradually moved into the financial industry as he began trading stocks in his pastime. He then moved into the financial markets full time and then shifted his focus to the FX markets due to the liquid nature of these markets. Since then, he has been trading FX diligently and his favourite pair are the EURUSD and EURJPY. Over the last couple of years, he has found blockchain to be of high interest and considering his background in software and finance, he has since assembled a team of highly talented developers who have since worked on a variety of projects like crypto exchanges and blockchain architecturing. Now, he balances his time between trading and commenting on both the FX and crypto markets. He has worked with many publications including FX Street and Finance Magnates, which has helped him gain experience and also recognition across the industry. He loves to write and this passion has helped him to reach out across the FX and crypto industry. Right now, he works on his pet projects in the FX and crypto industry and spends his time writing and managing his blockchain team and helping it to reach higher.
