Nasdaq buys 3 businesses from Thomson Reuters
NEW YORK (AP) — The Nasdaq OMX Group has wrapped up its purchase of three businesses from Thomson Reuters.
The Nasdaq bought Thomson Reuters' investor relations, public relations and multimedia businesses and plans on merging the three into its global technology solutions division, according to a statement released Monday. The exchange said it expects the acquisition to give a boost to its earnings within a year.
"The completion of this acquisition will expand our Corporate Solutions' international footprint to roughly 10,000 clients in over 60 countries, while diversifying and expanding our recurring revenue base and delivering value to shareholders," said Bob Greifeld, Nasdaq's CEO, in a statement.
The deal was announced last December.
Nasdaq OMX Group Inc. has wrestled with weaker trading volumes and has lined up a number of acquisitions to bring in revenue from other activities besides stock trading. In April, it announced plans to buy eSpeed, an electronic service for trading U.S. Treasury notes and bonds, and in March made a deal to partner with the SharesPost to develop a new market for private companies.
In Monday morning trading, the exchange operator's stock was down 1 percent, or 30 cents, to $31.17. Nasdaq's shares have gained 22 percent this year, more than the overall stock market.