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Thomson Financial buys WorldStreet assets; starts service for bankers.

Thomson Financial (New York) has acquired the WorldStreet Net technology assets from WorldStreet Corp. (Boston, MA). WorldStreet Net is an Internet-based, peer network service for the financial services industry. No terms were given.

Thomson said the acquired service allows a closed community of securities professionals to securely share pre-trade information and ideas. Members only get information relevant to their specific interests. Thomson said the purchase "fits well with (our) strategy of offering an integrated suite of solutions that support the buy and sell-side activities of institutional investors."

Also, Thomson has launched "Thomson ePIB," a Web-based service for investment bankers and financial professionals. The service collects documents from financial industry databases and assembles a "Personal Information Book" (PIB) for subscribers. Content covers 80,000 global companies and comes from in-house and third-party sources, and selected proprietary databases. Content covers financial data, news articles, M&A deals, new issues, ownership, daily pricing, block trading activity and research.

Also, Thomson said the subsidiary Thomson Financial will not sell the assets it had sought a buyer for since last year. Due to Sept. 11 and a declining advertising market, Thomson said that it was "unable to realize proper value" for the assets. The assets that were to have been sold include American Banker, The Bond Buyer, Securities Industry News, Financial Planning Magazine, Sheshunoff Banking and Nelson Information.
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Comment:Thomson Financial buys WorldStreet assets; starts service for bankers.
Publication:Legal Publisher
Geographic Code:1USA
Date:Feb 28, 2002
Words:223
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