TORONTO, Oct. 3, 2024
/CNW/ -- Thomson Reuters (TSX/NYSE: TRI), a global content and
technology company, today announced it has entered into a
definitive agreement to sell its FindLaw business to Internet
Brands. Internet Brands is a fully integrated online media and
software services company that is a leading operator of digital
platforms in high-value vertical categories, including Health and
Legal.
Over the last 20 years, FindLaw has established itself as a
premier destination for legal assistance and a key marketing
platform for law firms. Internet Brands' proprietary operating
model has powered best-in-class digital platforms for consumers and
commercial partners since 1998 and is well-positioned to invest in
and expand the FindLaw business.
This transaction will allow both Thomson Reuters and Internet
Brands to concentrate on their strategic priorities, ensuring
customers continue to receive top-tier service and support from
FindLaw.
The transaction is expected to close in the fourth quarter of
2024, pending regulatory approvals.
Centerview Partners LLC served as financial advisor to Thomson
Reuters.
Thomson Reuters
Thomson Reuters
(TSX/NYSE: TRI) informs the way forward
by bringing together the trusted content and technology that people
and organizations need to make the right decisions. The company
serves professionals across legal, tax, accounting, compliance,
government, and media. Its products combine highly specialized
software and insights to empower professionals with the data,
intelligence, and solutions needed to make informed decisions, and
to help institutions in their pursuit of justice, truth, and
transparency. Reuters, part of Thomson Reuters, is a world leading
provider of trusted journalism and news. For more information,
visit tr.com.
Internet Brands
Internet
Brands®, headquartered in El
Segundo, Calif, is a fully integrated online media and
software services company focused on four high-value vertical
categories: Health, Automotive, Legal, and Home/Travel. The
company's properties and platforms include the
WebMD, Medscape, and Henry Schein
ONE networks, which are the global leaders in their
markets; Nolo, Avvo, and
Martindale, which form the largest consumer information
provider in the legal market; and CarsDirect,
Fodor's Travel, and many others which are leaders in their
key vertical markets. Internet Brands' award-winning consumer
websites lead their categories and serve more than 250 million
monthly visitors, while a full range of web presence offerings has
established deep, long-term relationships with SMB and
enterprise clients. The company's powerful, proprietary operating
platform provides the flexibility and scalability to fuel the
company's continued growth. Internet Brands is a portfolio company
of KKR and Warburg Pincus.
Special Note Regarding Forward-Looking Statements,
Material Risks and Material Assumptions
Certain
statements in this news release are forward-looking, including but
not limited to the expected closing date of the proposed
transaction. The words "will", "expect" and similar expressions
identify forward-looking statements. While Thomson Reuters believes
that it has a reasonable basis for making forward-looking
statements in this news release, they are not a guarantee of future
performance or outcomes and there is no assurance that any of the
other events described in any forward-looking statement will
materialize. Forward-looking statements are subject to a number of
risks, uncertainties and assumptions that could cause actual
results or events to differ materially from current expectations.
Many of these risks, uncertainties and assumptions are beyond
Thomson Reuters' control and the effects of them can be difficult
to predict. You are cautioned not to place undue reliance on
forward-looking statements which reflect expectations only as of
the date of this news release. Except as may be required by
applicable law, Thomson Reuters disclaims any obligation to update
or revise any forward-looking statements.
Media Contacts:
Thomson Reuters
Lindsay Bomar
Lindsay.Bomar@thomsonreuters.com
Internet Brands
Joe Ewaskiw
joe.ewaskiw@internetbrands.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/thomson-reuters-enters-into-definitive-agreement-to-sell-findlaw-business-to-internet-brands-pending-regulatory-approvals-302265697.html
SOURCE Thomson Reuters
