Thomson Reuters made the following announcement earlier this morning.
Thomson Reuters today announced that it is exploring strategic options for its Intellectual Property & Science business. With leading products and solutions such as Web of Science, Thomson CompuMark, Thomson Innovation, MarkMonitor, Thomson Reuters Cortellis and Thomson IP Manager, the Intellectual Property & Science business provides its customers with comprehensive intellectual property and scientific information, decision support tools and services supporting the innovation lifecycle for governments, academia and corporations.
Thomson Reuters would plan to use any net proceeds from a potential transaction for general corporate purposes, including investing in its core businesses, repaying debt and accelerating share buyback activity.
Intellectual Property & Science had revenues of approximately $1.0 billion and a segment EBITDA margin of 32.4% in 2014, representing approximately 8% of the company’s 2014 revenues and approximately 10% of the company’s 2014 adjusted EBITDA.
Change Of Leadership
Thomson Reuters also announced that Vin Caraher has been appointed President of the Intellectual Property & Science business, effective immediately. Mr. Caraher is a longtime Thomson Reuters executive who previously led the Thomson Scientific business as one of his many assignments with the company over the years. Basil Moftah, formerly President of Intellectual Property & Science, is leaving Thomson Reuters to pursue other opportunities. The company wishes him success in his future endeavors.
Read the Complete Announcement