The transaction remains subject to other customary completion conditions. Reuters and Telerate are working together with the intention of satisfying the remaining conditions and completing the transaction within the second quarter.
In order to receive expedited clearances from the European Commission and U.S. Department of Justice, Reuters and Telerate have entered into an agreement to license Telerateâs TRS (Trading Room System) technology to Hyperfeed Technologies, Inc. following and subject to completion of the acquisition.
Hyperfeed, a provider of enterprise-wide ticker plant and transaction technology, software and services, will be entitled to use and further develop the TRS technology to offer its own market data system worldwide. Hyperfeed will also receive rights to Telerateâs Active8 technology to create its own desktop application solely to connect to and work with its market data system. In addition to receiving the European Commission clearance, Reuters believes the license resolves all concerns expressed by the U.S. Department of Justice from its preliminary investigation regarding the acquisition.
This arrangement does not change the assets and business Reuters is acquiring in the transaction, which continue to include all Telerate customer contracts and obligations including those relating to TRS and Active8. The arrangement also does not restrict Reuters ability to continue to develop, support or distribute TRS or Active8 following completion, nor change Telerateâs existing distributor arrangements which Reuters is also acquiring.