NEW YORK, Oct. 7 /PRNewswire/ -- Capital IQ, a Standard & Poor's business, today announced that it has agreed to acquire a copy of the Reuters Estimates and the Reuters Research-on-Demand databases, as well as training materials, source documents and other related assets and services from Thomson Reuters, subject to certain third party consents. The agreement accelerates Capital IQ's own estimates database project and launches Capital IQ into the aftermarket research market place. The acquisition rounds out Capital IQ's data offering adding another piece in its comprehensive global analytical solution.
"The addition of the Reuters database content to our platform speaks to our ongoing commitment to offer the very best in research content and tools while strengthening our ability to provide quality research and estimates data to all our clients" said Randall Winn, Executive Managing Director of Capital IQ. "We currently have over 370 leading sell-side firms, including many top investment banks and brokerage houses, contributing their content to Capital IQ. We are committed to making a smooth transition for any new contribution relationships and we are extremely excited to have two new databases to provide to our clients."
This sale is being made by Thomson Reuters to meet certain regulatory requirements of the European Commission (EC) and US Department of Justice (DOJ) in connection with Thomson's acquisition of Reuters, which closed on April 17, 2008, and was approved by both agencies under those requirements. Thomson Reuters will retain ownership of the databases and related assets, and no changes will be made to its business as a result of the sale. Capital IQ is currently a third-party redistributor of Reuters Estimates and Reuters Research-on-Demand and will continue to redistribute these databases after the acquisition.
In addition, Thomson Reuters will provide certain transitional services to Capital IQ for a period after closing. These include content updates for the transferred databases, provision of estimates and aftermarket research content for redistribution, and various other services that will aid Capital IQ's integration of the databases into its current platform and data feed offerings.
About Capital IQ and Standard & Poor's
Capital IQ, a Standard & Poor's business, provides high-impact information and workflow solutions to over 2,400 leading financial institutions, advisory firms, and corporations. Its solutions are based on the Capital IQ Platform, a unique combination of global private and public capital market data and technology that enables end-users to draw deep market insights, generate better ideas, leverage relationships, and simplify workflow. Clients can deploy the Capital IQ Platform either as a standalone solution or seamlessly integrate its components into existing business applications and portals via systems integration and data feeds. For more information, please visit Capital IQ's web site at www.capitaliq.com.
About Standard & Poor's
Standard & Poor's, a division of The McGraw-Hill Companies (NYSE: MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 8,500 employees, including wholly owned affiliates, located in 23 countries and markets, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com
SOURCE Standard & Poor's
Contact: Seung Bak, Capital IQ, +1-212-438-8687; sbak@capitaliq.com, or Rosally Sapla, +1-212-751-3321; rsapla@groupsjr.com