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| ThomsonReuters to buy Hugin |
| Author: | Nancy Davis Kho |
| Date: | Monday, 28th Sep 2009 18:20 |
| Views: | 862 (excluding Digests and RSS feeds) |
| Category: | Industry Update | | URL: | http://www.vivavip.com/go/e24988 |
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In a press release from 21.9.2009, Thomson Reuters announced that it has signed an agreement to acquire Hugin Group BV from NYSE Euronext (http://digbig.com/5bajbw). The move is intended to bolster TR's product offerings in the investor relations and public relations markets, and the deal signals the intent of TR to work closely with NYSE Euronext in a strategic partnership.
The transaction is expected to be completed in the fourth quarter of 2009, subject to customary regulatory approvals. While terms were not disclosed, though Norwegian newspaper Dagens Naeringlsliv said that the acquisition price was around 40 million to 42 million euros ($59 million to $62 million).
Since its start in Oslo, Norway in 1995, Hugin has built its position as the leading pan-European provider of investor relations and press distribution services. The company reports that it has over 1,700 client companies in Europe with whom it works to meet communications and disclosure obligations. According to the release, 'In recent years, Hugin has introduced solutions for the newly implemented EU regulatory framework and continues to develop innovative technology and workflow solutions for IR and PR professionals for the global market.'
There's no doubt that this is a wise investment for ThomsonReuters, as it seeks broader markets for its IR solutions. The question that many observers have, however, is whether the deal will have a chilling effect on innovation for IR products in Europe, once ThomsonReuters has a locally-based foothold (according to a Reuter's item on the acquisition, Hugin has 105 employees, with centres in Norway, Germany and France. http://digbig.com/5bajcc)
Dominic Jones, a Canadian who blogs on the topic of IR at the IRWeb Report (http://digbig.com/5bajby) goes so far as to say 'This is terrible news. Thomson Reuters will run hundreds of innovative smaller web developers in Europe out of the investor relations business, just as they have done in the US market.'
While that view may be extreme, it's no secret that ThomsonReuters has the resources to potentially dominate any market it enters, so European IR vendors must feel a shadow falling on them. This is when product and customer service excellence can make or break a smaller vendor.
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| • | ThomsonReuters to buy Hugin | | In a press release from 21.9.2009, Thomson Reuters announced that it has signed an agreement to acquire Hugin Group BV from NYSE Euronext (http://digbig.com/5bajbw). The move is intended to bolster TR's product offerings in the investor relations and public relations markets, and the deal signals the intent of TR to ... |
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Nancy Davis Kho |
28/09/09 18:20 |
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