Thomson Reuters Signs Definitive Agreement to Acquire TimeBase
Thomson Reuters Signs Definitive Agreement to Acquire TimeBase |
| [04-May-2025] |
SYDNEY, May 5, 2025 /PRNewswire/ -- Thomson Reuters Corporation (TSX/Nasdaq: TRI), a global content and technology company, today announced it has signed a definitive agreement to acquire TimeBase, a leading provider of Australian legislative solutions, for $6.5 million cash. Founded in 1994, TimeBase is a leading provider of Australian legislative information, offering a comprehensive platform for legal professionals to find, search, track, and understand legislation. TimeBase has 11 employees, and its solutions are used by hundreds of customers, including corporate legal teams, government departments, academic institutions, and more than half of Australia's top law firms. "Thomson Reuters is committed to serving its customers with cutting-edge technology, trusted content, and human expertise needed to elevate the way professionals work. And, at the core of legal professionals' ability to confidently make complex decisions is access to the most current and accurate content," said Vishal Bali, managing director of Asia and Emerging Markets. "We believe the acquisition of TimeBase will accelerate and expand our market potential for these offerings for customers in Australia." "For the last thirty years, TimeBase has prided itself in being an innovative, trusted provider of Australian legislative solutions, delivering extraordinary services that give our customers the edge in their legislation research," said Vanessa Morris, CEO of TimeBase. "By joining Thomson Reuters, it will allow us to advance our mission by providing our best-in-class content to their customer base, while exploring new opportunities to integrate generative AI capabilities at a greater pace for our customers." Closing of the transaction is subject to regulatory approval and customary closing conditions and is anticipated to occur in the second half of 2025. Thomson Reuters TimeBase SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS, MATERIAL RISKS AND MATERIAL ASSUMPTIONS Certain statements in this news release are forward-looking, including but not limited to the expected closing date for the proposed transaction. The word "anticipate" and similar expressions identify forward-looking statements. While the company believes that it has a reasonable basis for making forward-looking statements in this news release, they are not a guarantee of future performance or outcomes and there is no assurance that any of the other events described in any forward-looking statement will materialize. Forward-looking statements are subject to a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from current expectations. Many of these risks, uncertainties and assumptions are beyond our company's control and the effects of them can be difficult to predict. You are cautioned not to place undue reliance on forward-looking statements which reflect expectations only as of the date of this news release. Except as may be required by applicable law, Thomson Reuters disclaims any obligation to update or revise any forward-looking statements. Contacts Media Investors
SOURCE Thomson Reuters | ||
Company Codes: Toronto:TRI, NASDAQ-NMS:TRI |
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