Thomson Reuters to
Acquire Integration Point
TORONTO, Oct. 23, 2018 /PRNewswire/ -- Thomson
Reuters today announced that it has signed a definitive agreement
to acquire Integration Point, an international leader in global
trade management (GTM) operations. The completion of the
acquisition is subject to customary regulatory approvals and
closing conditions. Terms of the transaction were not
disclosed.
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"Recent debate over trade agreements like TPP, the United States-Mexico-Canada Agreement and
Brexit illustrate the complexity of multilateral trade and the
related compliance requirements our customers face," said
Jim Smith, president and chief
executive officer, Thomson Reuters. "This acquisition will further
strengthen our offerings in the high-growth global trade management
space and support our leading position at the intersection of
regulation and commerce."
Following the sale of a 55 percent interest in its Financial
& Risk division, Thomson Reuters is focused on supporting its
core offerings in the legal, tax, regulatory and media markets.
This acquisition complements the company's ONESOURCE global tax
compliance operations and expands its commitment to software and
cloud-based offerings. Integration Point's technology platform will
allow Thomson Reuters to provide a single, scalable GTM platform
and serve customers with an enhanced trade-management solution.
"This year has been a record-breaking year for Integration Point
across many fronts," said Tom
Barnes, CEO, Integration Point. "As I look toward the
future, I'm excited about the opportunities that will be created
for our customers and for our team when combining Integration
Point's global platform and trade-compliance expertise with the
Thomson Reuters brand, resources and global footprint."
Barnes will provide transitional support to Thomson Reuters for
an interim period following the close of the deal. Robert Bahash, head of business development for
the Corporates customer market for Thomson Reuters, will lead the
transition and operations of the business following the close.
Integration Point
Integration Point offers a comprehensive suite of global trade
management products encompassing almost all industries, geographies
and trade programs. By delivering visibility and localized
knowledge for more than 200 countries and territories on a single
web-based platform, Integration Point enables companies to achieve
global compliance while maximizing supply chain savings.
Integration Point provides solutions for import/export management,
product classification, free trade agreement qualification, export
screening, drawback, foreign-trade zones, supply chain security and
post-entry validation.
Thomson Reuters
Thomson Reuters is the world's leading provider of news and
information-based tools to professionals. Our worldwide network of
journalists and specialist editors keep customers up to speed on
global developments, with a particular focus on legal, regulatory
and tax changes. Thomson Reuters shares are listed on the
Toronto and New York Stock
Exchanges. For more information on Thomson Reuters,
visit tr.com and for the latest world
news, reuters.com.
CONTACTS
MEDIA |
INVESTORS |
David Crundwell |
Frank J. Golden |
Senior Vice President, Corporate Affairs |
Senior Vice President, Investor Relations |
+1 416 649 9904 |
+1 646 223 5288 |
david.crundwell@tr.com |
frank.golden@tr.com |