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Weekly News Digest
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April 12, 2004 — In addition to this week's NewsBreaks article and the monthly NewsLink Spotlight, Information Today, Inc. (ITI) offers Weekly News Digests that feature recent product news and company announcements. Watch for additional coverage to appear in the next print issue of Information Today.
CLICK HERE to view more Weekly News Digest items.
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Thomson to Acquire TradeWeb
The Thomson Corp. and privately held TradeWeb Group, LLC announced that they have signed a definitive agreement under which Thomson will acquire TradeWeb, an online global trading platform for fixed-income securities. Thomson will purchase TradeWeb for $385 million in cash plus contingent payments of up to approximately $150 million over the next 3 years based on the achievement of growth targets. The transaction is expected to close later this quarter.TradeWeb is currently owned by a consortium of eight investment banks (Credit Suisse First Boston, Citigroup, Goldman Sachs, Lehman Brothers, Merrill Lynch, Morgan Stanley, JP Morgan, and Deutsche Bank) and employs an Internet-based technology that provides premium fixed-income market data, rapid price discovery and speed to execute trades in seconds, enabling institutional fixed-income buy-side customers to simultaneously trade with multiple dealers around the world. Through Thomson ONE Yield, Thomson Financial currently offers a suite of pre-trade analytical capabilities to the fixed-income marketplace. With Thomson ONE Yield integrated into TradeWeb's real-time trading platform, Thomson will be able to offer dealers and buy-side traders an electronic trading solution, from pre-trade analytics to post-trade confirmation. Source: The Thomson Corporation
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Brandi Scardilli
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