Thomas Reuters Acquires World Business Media Limited

On January 16, Thomson Reuters announced its acquisition of World Business Media Limited, a London-based company specializing in providing subscription-based news and analysis services for the insurance and reinsurance market. With approximately 25 employees, World Business Media Limited will integrate into the Reuters News division of Thomson Reuters. Its product portfolio includes The Insurer, a digital platform offering editorial content and data insights, as well as Insurer TV and an events business, catering to a professional audience of around 45,000 individuals. Financial terms of the acquisition were not disclosed.

Paul Bascobert, president of Reuters, expressed the company's intention to invest in expanding the acquired business, aiming to broaden its coverage and audience reach, thereby delivering enhanced value to customers in the sector.

Peter Hastie, managing director of World Business Media Limited, highlighted the growing need for context and clarity in the face of rapid industry changes, increasing regulatory complexity, and escalating risks within the insurance and reinsurance sectors.
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This acquisition is part of Thomson Reuters' broader strategy to bolster its offerings for professional clients. It follows previous acquisitions such as Casetext, a California-based AI company specializing in legal research and document preparation, which Thomson Reuters acquired for $650 million in cash in August. Additionally, Thomson Reuters recently increased its bid to acquire a majority stake (now 54%) in Sweden's Pagero Group, a firm specializing in e-invoicing and tax solutions. These strategic moves align with Thomson Reuters' commitment to expanding its global tax offerings and investing in AI capabilities, as evidenced by its earmarked $10 billion for acquisitions and annual investments of about $100 million in AI capabilities.