Explore the comprehensive timeline of Thomson Reuters, a leading provider of news and information-based tools to professionals. Discover the key milestones and significant developments in Thomson Reuters' history, from its inception to its current stature in the global market.
Thomson Reuters was created by the Thomson Corporation's acquisition of the Reuters Group on April 17, 2008. This merger combined the Canadian-based Thomson Corporation, known for its information services in areas such as law, healthcare, and science, with Reuters Group, a global leader in news and financial information distribution. The merger was set to create one of the largest information companies globally, focusing on providing professionals with the necessary data and analytics to drive decisions, catalyzing significant synergies and integrations.
On January 1, 2010, the Thomson Reuters Foundation launched TrustLaw, a global pro bono legal program. The initiative aimed to connect high-impact social enterprises and nonprofit organizations with the world's best legal teams at no cost to address legal challenges and scale their impact. TrustLaw became recognized as a critical resource in promoting legal reform and supporting the global advancement of social justice and human rights. It reflected Thomson Reuters' dedication to applying its resources and expertise for social good.
On February 4, 2011, Reuters News, a division of Thomson Reuters, announced the launch of Reuters Next, an ambitious initiative aimed at transforming its news offerings for digital platforms. The project sought to integrate innovative digital technologies to enhance both the speed and depth of news delivery across multiple platforms, encouraging interactive and personalized news experiences. Reuters Next was part of a broader strategic vision to adapt to the evolving digital media landscape and enhance user engagement in news consumption.
On August 6, 2013, Thomson Reuters faced controversy when it was discovered that the company had been releasing a key consumer confidence report five seconds ahead of its public release to high-paying financial clients. This revelation led to widespread criticism and regulatory scrutiny over preferential treatment that could provide hedge funds with an unfair advantages in high-frequency trading strategies. In response, Thomson Reuters announced new protocols to ensure equitable distribution of sensitive financial information, restoring its commitment to fairness and transparency in data dissemination.
On December 12, 2016, Thomson Reuters revolutionized news and media collaboration by launching ReutersConnect, a dynamic platform enabling media clients to access a comprehensive range of news content and multimedia from Reuters in a single, modern interface. The cloud-based platform was designed for speed, reliability, and ease of use, allowing users to integrate stories seamlessly, customize searches, and efficiently license content. Developed to meet the needs of media organizations globally, ReutersConnect was a response to the demands for agile and diversified content delivery methods.
On September 23, 2017, Thomson Reuters announced a strategic collaboration with IBM's Watson to enhance its data analytics capabilities utilizing artificial intelligence. By integrating Watson's AI technology into its product offerings, Thomson Reuters aimed to deliver more sophisticated data analysis and insights. This partnership was part of a broader initiative to embed machine learning and AI across its platforms, providing more predictive and personalized solutions to clients across its legal, news, and tax divisions.
On January 30, 2018, Thomson Reuters announced that Blackstone Group, a leading global private equity firm, would acquire a 55% stake in Thomson Reuters' Financial and Risk business, known widely for its terminal and data analytics solutions in the financial industry. This sale was valued at approximately $20 billion, aiming to allow Thomson Reuters to streamline its operations, reduce debt, and concentrate more on its core segments, namely the legal, tax, and media services sectors. The joint venture was later rebranded as Refinitiv.
On October 1, 2019, the London Stock Exchange Group (LSEG) confirmed that it had reached an agreement to acquire Refinitiv, the financial market data division previously held by Thomson Reuters and Blackstone, in an all-share transaction valued at $27 billion. This significant acquisition aimed to transform LSEG into a leading player in financial data and analytics by leveraging Refinitiv’s vast data resources and technology-driven platforms, aiming for enhanced market competitiveness and innovation.
On January 14, 2020, Thomson Reuters outlined its future strategy by announcing a major pivot towards becoming a major technology and content-driven company. The restructuring involved significant capital investment aimed at developing its digital platforms and stepping up its presence in AI and automation to enhance its customer-facing offerings, streamline operations, and speed up its product integration processes. The move was seen as a transformative step to align with market demands and technological advancements.
On November 2, 2022, Thomson Reuters announced the decision to shut down its global business-to-business division focusing on tender management, citing the need to reallocate resources to more strategic growth areas. The closure of this division was part of a broader restructuring strategy aimed at optimizing their portfolio and focusing on higher-margin business segments such as legal, tax, and media services. This was also aligned with the company’s efforts to drive digital transformation and innovation across its core operations.
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