Thomson
Reuters Completes Clarient and Avox Acquisitions Creating
Best-In-Class KYC and Legal Entity Data Due Diligence Standards
Acquisitions strengthen Thomson
Reuters relationship with DTCC, Barclays, Credit Suisse, Goldman
Sachs, J.P. Morgan, State Street and other clients for compliance
solutions that enable them and their customers to conduct global
business.
NEW YORK and LONDON and SINGAPORE, March 20,
2017 /PRNewswire/ -- Thomson Reuters has completed its
acquisitions of Clarient Global LLC and Avox Limited, expanding its
risk-management footprint and its ability to provide a
best-in-class standard of customer solutions by integrating both
businesses into its portfolio of risk management, compliance and
data offerings.
The Clarient and Avox acquisitions represent the next step of
Thomson Reuters vision to be a leading provider and trusted source
of Know Your Customer (KYC) and Legal Entity Information. Together
with Thomson Reuters, these businesses combine industry leading
data sources and technology solutions that raise standards,
increase control and reduce costs for clients and improve the KYC
experience for market participants.
"Completing the acquisitions of Clarient and Avox affords a
tremendous opportunity for us to work together in our shared goal
of creating best-in-class KYC and Legal Entity Data due diligence
standards that enhance our customers and their customers' ability
to conduct global business," said Steve
Pulley, Managing Director, Risk Managed Services, Thomson
Reuters. "Clarient and Avox's deep specialty knowledge and
capabilities will enhance our portfolio of solutions, and we
welcome our esteemed new colleagues to the Thomson Reuters
family."
Clarient is a leading global KYC platform formerly owned by the
Depository Trust & Clearing Corporation (DTCC), Barclays,
Credit Suisse, Goldman Sachs, J.P. Morgan, and State Street among
others. Avox is a leading supplier of legal entity data, such as
hierarchies and identifiers on financial entities globally.
"The acquisition of Clarient and Avox by Thomson Reuters is
significant as it further positions Thomson Reuters, with the
support of DTCC and the Clarient founder banks as initial
consumers, as a leading, trusted provider of KYC and Legal Entity
Data Due Diligence solutions," said Hugh
Stewart, Research Director at Chartis Research. "The
evolving global regulatory environment continues to emphasize
anti-money laundering requirements for buy-side firms and corporate
institutions to know their customers and all their related
relationships when conducting global business. These regulatory
requirements are spurring a growing demand for firms such as
Thomson Reuters to develop global solutions that not only help
customers accelerate client on-boarding and comply with
regulations, but also reduce costs, improve client experience and
extend support to the whole client life cycle."
Tim Keady, Head of DTCC Solutions
said: "With the closing of the deal, both Clarient and Avox will
continue to serve the industry as part of a holistic set of
solutions to help firms address the myriad challenges around client
reference data. We look forward to both businesses continuing to
grow and supporting a wider segment of the market in the
future."
Thomson Reuters previously announced that it had signed
agreements to acquire Clarient Global LLC and Avox Limited on
February 6, 2017. Terms of the deal
were not disclosed.
Thomson Reuters
Thomson Reuters is the world's leading source of news and
information for professional markets. Our customers rely on us to
deliver the intelligence, technology and expertise they need to
find trusted answers. The business has operated in more than 100
countries for more than 100 years. Thomson Reuters shares are
listed on the Toronto and New York
Stock Exchanges. For more information, visit
http://www.thomsonreuters.com/.
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