Thomson
Reuters to Explore Strategic Options for its Intellectual Property
& Science Business
NEW YORK, Nov. 11, 2015 -- Thomson Reuters (TSX/NYSE:
TRI) today announced that it is exploring strategic options for its
Intellectual Property & Science business. With leading products
and solutions such as Web of Science, Thomson CompuMark, Thomson
Innovation, MarkMonitor, Thomson Reuters Cortellis and Thomson IP
Manager, the Intellectual Property & Science business provides
its customers with comprehensive intellectual property and
scientific information, decision support tools and services
supporting the innovation lifecycle for governments, academia and
corporations.
Logo -
http://photos.prnewswire.com/prnh/20130208/MM57185LOGO
"Our Intellectual Property & Science division contains
growing and profitable businesses which operate in attractive
markets," said James C. Smith,
president and chief executive officer of Thomson Reuters. "By
sharpening our strategic focus, we are increasingly prioritizing
investments behind the many opportunities we see at the
intersection of global commerce and regulation. I believe that
Intellectual Property & Science will continue to thrive in the
future and we want to put it in the best position possible to
realize its potential."
Thomson Reuters would plan to use any net proceeds from a
potential transaction for general corporate purposes, including
investing in its core businesses, repaying debt and accelerating
share buyback activity.
Intellectual Property & Science had revenues of
approximately $1.0 billion and a
segment EBITDA margin of 32.4% in 2014, representing approximately
8% of the company's 2014 revenues and approximately 10% of the
company's 2014 adjusted EBITDA.
Thomson Reuters full-year 2015 consolidated results will include
Intellectual Property & Science's results.
Thomson Reuters also announced that Vin
Caraher has been appointed President of the Intellectual
Property & Science business, effective immediately. Mr. Caraher
is a longtime Thomson Reuters executive who previously led the
Thomson Scientific business as one of his many assignments with the
company over the years. Basil
Moftah, formerly President of Intellectual Property &
Science, is leaving Thomson Reuters to pursue other opportunities.
The company wishes him success in his future endeavors.
Guggenheim Securities, LLC and J.P. Morgan are acting as
financial advisors to Thomson Reuters.
Thomson Reuters
Thomson Reuters is the world's leading source of intelligent
information for businesses and professionals. We combine industry
expertise with innovative technology to deliver critical
information to leading decision makers in the financial and risk,
legal, tax and accounting, intellectual property and science and
media markets, powered by the world's most trusted news
organization. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges (symbol:
TRI). For more information, go to
http://www.thomsonreuters.com/.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements in this news release are forward-looking,
including the company's current expectations regarding uses of
proceeds if a transaction involving the Intellectual Property &
Science business occurs. These forward-looking statements are based
on certain assumptions and reflect our company's current
expectations. As a result, forward-looking statements are subject
to a number of risks and uncertainties that could cause actual
results or events to differ materially from current expectations.
There is no assurance that a transaction involving all or part of
the Intellectual Property & Science business will be completed
or that other events described in any forward-looking statement
will materialize. Except as may be required by applicable law,
Thomson Reuters disclaims any obligation to update or revise any
forward-looking statements. Segment EBITDA is a non-International
Financial Reporting Standards (IFRS) measure. Segment EBITDA for
the Intellectual Property & Science business and EBITDA for the
company are defined and reconciled to the most directly comparable
IFRS measures in the company's 2014 annual report, which has been
filed with the Canadian securities regulatory authorities and the
U.S. Securities and Exchange Commission.
CONTACTS |
|
MEDIA
David Crundwell
Senior Vice President, Corporate Affairs
+44 20 7542 8763
david.crundwell@thomsonreuters.com |
INVESTORS
Frank J. Golden
Senior Vice President, Investor Relations
+1 646 223 5288
frank.golden@thomsonreuters.com |
SOURCE Thomson Reuters