Thomson Reuters To Sell Off Their Intellectual Property To Onex Corp.

A Toronto-based Onex Corp. along with other companies and firms, including private equity funds associated with these firms have decided to buy a well knowledgeable asset and the scientific department of Thomson Reuters in an agreement worth $3.55 billion US dollars.

The division has 4,100 employees in 40 countries and 75 offices specifically. Their main office is located in Philadelphia, United States. It serves as an efficient tool to provide specified data to help clients and aid them in their decision-making in areas like legal issues, government, corporate and academics.

Those that will be buying the property are mostly private equity funds that work together with Baring Private Equity in Asia and Onex Corp, which is based in Toronto. The trading featured on the TSK shows Thomson Reuters has an increase of $1.13 which is an approximate $54.40 on their shares, while Onex shares soared from 52 cents to a whopping $80. Thomson Reuters are yet to use up $1 billion US dollars of the money left after selling their asset, to pay off debts and buy their shares back.