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STAMFORD, Conn. (CP) - Thomson Corp. is buying private financial database company Quantitative Analytics Inc., adding to its Thomson Financial division's stable of financial analysis software.
Financial terms of the deal announced Tuesday were not disclosed.
QAI integrates multiple data sources, including proprietary customer data, to create an integrated database of financial information and provides a suite of analytical tools to query the database for insights and trading ideas.
"I believe the combined capabilities of our businesses will immediately position Thomson Financial at the forefront of the solutions space for investment managers," president of Thomson Financial's corporate Services and investment banking segments Suresh Kavan said in a release.
"Following the acquisition, our product suite will provide Thomson clients with one-stop access to market leading data sets, quantitative analytics and integrated delivery systems."
Chicago-based QAI's management team and employees will become part of the investment management segment of Thomson Financial.
Thomson Corp. (TSX:TOC), which started in Canada and was once the country's largest newspaper owner, is one of the world's biggest specialized information companies with 2004 revenues of $8.1 billion US and 40,000 employees.
It provides information, software and other services to more than 20 million users in law, tax, accounting, financial services, higher education, reference information, corporate e-learning, scientific research and other fields.
© The Canadian Press, 2006
