Thomson Reuters, established in 2008, is a global provider of critical information and services to businesses and professionals. The company emerged from the merger of the Reuters Group, with a lineage dating back to 1851, and the Thomson Corporation, whose origins trace back to 1934. This merger synergized two powerful entities with rich histories in news and information services into a formidable force in the information technology landscape.
Organizational Divisions
Thomson Reuters operates through two primary divisions: Markets and Professional.
Markets Division
The Markets division caters to financial operators by providing in-depth market data, analytics, and trading tools. Key brands associated with this division include:
- Lipper: A renowned provider of mutual fund information and analytical tools.
- First Call: An equity securities research and analysis service.
- Reuters Knowledge: A comprehensive research and data service for institutional investors.
- Thomson ONE: A desktop-based solution integrating various financial market analytics tools.
- StreetEvents: A platform offering corporate event information such as earnings calls and conference presentations.
Professional Division
The Professional division supports legal, tax, accounting, and scientific research professionals through specialized information services and tools. Key brands include:
- Westlaw: An extensive database of legal research resources.
- Sweet & Maxwell: A leading legal publisher in the UK.
- Hubbard One: Providing client relationship management and marketing solutions for law firms.
- Checkpoint: Offering comprehensive tax and accounting research tools.
- Web of Science: A critical tool for scientific research and citation analysis.
Historical Context
The Reuters Group
The Reuters Group was founded in 1851 by Paul Julius Reuter in London. Reuter initially utilized pigeons to carry stock market information between Aachen and Brussels. Reuters became widely recognized for its speedy and reliable news services, especially during major global events.
The Thomson Corporation
The Thomson Corporation’s roots date back to 1934 when Roy Thomson established a radio station in Ontario, Canada. Over the decades, the company expanded into publishing newspapers, becoming one of the largest information companies globally.
Applicability and Impact
Thomson Reuters provides indispensable tools and data across numerous sectors. Financial analysts, legal practitioners, tax advisors, and researchers heavily rely on its services for decision-making and operational efficiency. By amalgamating the expertise and resources of its predecessor entities, Thomson Reuters has cemented its reputation as a leader in professional information services.
Comparisons and Related Terms
Bloomberg vs. Thomson Reuters
Both Bloomberg and Thomson Reuters offer financial data and analytics tools. While Bloomberg is renowned for its Bloomberg Terminal, Thomson Reuters is celebrated for its comprehensive suite of products tailored to different market needs.
FactSet
Similar to Thomson Reuters, FactSet provides financial data and analytics. However, FactSet often caters to a more niche market, whereas Thomson Reuters has a broader scope encompassing legal and scientific research.
FAQs
Q1: How did the merger between Reuters and Thomson Corporation impact the business landscape?
The merger created a powerhouse capable of offering a diverse and sophisticated portfolio of information services. It allowed the company to leverage the strengths and customer bases of both entities, thus expanding its global reach and influence.
Q2: What is Thomson ONE?
Thomson ONE is a comprehensive desktop solution that integrates various analytics tools necessary for financial market analysis, tailored for investment professionals.
References
- Thomson Reuters. (2023). Company History. Retrieved from www.thomsonreuters.com.
- Financial Times. (2008). “Thomson Reuters Merger Completed.” Financial Times.
Summary
Thomson Reuters, established through a 2008 merger, combines the legacy and expertise of the Reuters Group and the Thomson Corporation. With its two main divisions, Markets and Professional, the company serves a comprehensive array of professional sectors. Through its key brands like Westlaw, Lipper, and Thomson ONE, Thomson Reuters continues to be an indispensable provider of critical information and analytics to businesses and professionals worldwide.
