Reuters will acquire 100 percent of the share capital of EcoWin for a cash consideration of $40 million plus an adjustment for cash and working capital at the date of completion. Completion of the transaction is subject to regulatory approvals and other customary closing conditions and is expected to occur by end of 2005.
The acquisition of the privately held company follows Reuters recently announced growth strategy, which includes a focus on high value content to provide greater insight and supplement the news, company information, research and analysis that Reuters currently provides.
EcoWin was established in 1994 and has become a leading provider of in-depth global macroeconomic time-series data. The EcoWin economic database consists of five million economic and financial time series sourced from over eight hundred primary sources, covering more than one hundred countries worldwide, as well as regional aggregates such as the Euro Zone, Europe, Africa, Americas and World.
EcoWin data is delivered through EcoWin Pro software. EcoWin Pro is a dynamic charting and reporting tool that allows for a comprehensive range of analytical possibilities.
EcoWin will be integrated with Reuters Research and Asset Management division.
EcoWin products will continue to be sold and supported by Reuters and will be re-branded as Reuters EcoWin. Reuters will enhance its premium desktop offering, Reuters 3000 Xtra, to provide its users near real-time access to a broad range of economic data. Additionally, EcoWin data will also be incorporated into Reuters Knowledge, a leading-edge research and analytics solution that delivers investment management professionals in-depth company fundamental and research data, including Reuters Estimates, Reuters Fundamentals, and Reuters News and Pricing.
Julie Holland, Global Head of Research and Asset Management at Reuters commented: âEcoWin is an excellent fit with Reuters. Their macroeconomic data complements our company and financial content, and our Editorial capabilities. Our clients need and use macroeconomic data and all EcoWinâs clients can benefit from additional Reuters content.
"The agreement is a key step towards our vision to become the leading supplier of comprehensive investment intelligence and is key to Reuters strategy in the research and asset management space. The deal is also great news for all of our customers in terms of enhanced service, broader analysis and integrated products."
Christer Lundgren, CEO of EcoWin, comments: "We at EcoWin are excited to become part of Reuters. We believe that their vast client base and global presence will enable us to accelerate our growth, and provide clients an unrivalled breadth of content and analytics."