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Thomsonís Elite Touch
Acquisition-hungry Thomson Financial announced today its purchase of Elite Information Services -- a financial and legal services management applications provider Ė for $122 million.
The move augments Thomsonís legal information presence, specifically its West Group unit. Like Elite, West addresses the legal industryís need for workflow tracking and knowledge management. Mostly, however, West publishes a number of indispensable legal directories and information services. Thomson would now sell these products into Eliteís cache of larger, overseas customers.
As reported here last October, Thomsonís closest competitor, Reuters, has suffered substantial reversals, losing more than half of its marketcap and cutting staff. In contrast, Thomson is sealing its bid for industry domination with an aggressive acquisition campaign. In the last year, it has scooped up information vendors like Chicago-based patent database firm Delphion, UK-based Current Drugs, and McGraw Hillís e-learning focused Lifetime Learning division.
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