27 May 2010 – Thomson Reuters has agreed to acquire Point Carbon, a Norwegian-based provider of essential trading analytics, news and content for the energy and environmental markets.
Point Carbon provides banks, traders, portfolio managers, corporations and governments with critical insights based on deep industry knowledge and sophisticated modelling capabilities across the carbon, utilities, oil, gas and industrial markets. Point Carbon’s demand, supply and price predictive models are based on proprietary data collection and are used by thousands of traders and analysts globally.
The transaction is expected to close in the coming weeks. The terms of the agreement were not disclosed.
Shaun Sibley, Global Head of Commodities & Energy, Thomson Reuters, said: “This acquisition underscores Thomson Reuters commitment to the global energy markets and supports our growth plans for our leading commodity and energy business. Thomson Reuters clients will benefit from greater expertise and highly innovative technologies that will provide further granularity and a more sophisticated view of market conditions and their impact on price and trading. We will look to expanding our business to new customers, geographies and asset classes.”
Per-Otto Wold, CEO and Co-founder of Point Carbon, said, “Point Carbon has experienced excellent growth over the last 10 years and currently holds leading positions in our areas of focus. I truly believe that combining Thomson Reuters and Point Carbon is an excellent union of forces that will take Point Carbon to the next level.”
Following integration, Point Carbon content will be available through Thomson Reuters Eikon, the company’s new desktop offering to be launched later this year. In addition Reuters Insider, Thomson Reuters recently launched financial video platform, will begin broadcasting from Oslo and elsewhere around the world programs on the energy and environmental markets using Point Carbon’s analysts and proprietary data.