Reuters Acquires ClearForest

Reuters (LSE: RTR; NASDAQ: RTRSY) has entered into an agreement to acquire all of the outstanding shares of ClearForest Ltd., a privately held provider of Text Analytics solutions, whose tagging platform and analytical products allow clients to derive business information from huge amounts of textual content. ClearForest has received sufficient shareholder approval to complete the transaction, which is expected to close in approximately 30 days, subject to customary closing conditions. The financial terms were not disclosed. Reuters plans to retain and continue to work with the existing management team and their highly skilled workforces in the US and Israel. It also plans to continue to support existing products and customers. Reuters believes that search will be a pivotal element to the future of how financial information is sourced and consumed. As part of its drive into this space, it has created a new strategic group within Reuters and appointed former head of search for AOL, Gerry Campbell, who will oversee the integration of ClearForest and drive this business. http://www.reuters.com, http://www.clearforest.com