Thomson Reuters Buys Out Database Mining Company Discovery Logic
Thomson Reuters Corporation (TSX:TRI) has acquired Discovery Logic, Inc. Discovery Logic Inc. is a company that mines data for major clients. Discovery Logic takes databases and connects them in order to put together trends and measures performance. Thomson did not announce the financial details of the acquisition. Discovery Logic designs a line of software products called ScienceWire. ScienceWire uses algorithms to search through information on databases. Below is the full press release of the acquisition:
Thomson Reuters Acquires Discovery Logic, Inc
PHILADELPHIA and LONDON, Jan. 4 /PRNewswire/ — Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, today announced that it has acquired Discovery Logic, Inc, a provider of customizable analytics and decision support solutions for scientific research. Effective immediately, the company is part of the Healthcare & Science business of Thomson Reuters. Financial terms of the transaction were not disclosed.
The acquisition of Discovery Logic will enhance current research analytics offerings and provide increased decision support and workflow solutions to academic, government, non-profit and commercial professionals. Key assets and benefits which Discovery Logic will bring to Healthcare & Science’s Scientific & Scholarly Research group include:
* ScienceWire®, a highly customizable and proprietary software and database platform
* Complementary capabilities in analytics, data management- and value-added services
* Experienced management team with a highly skilled, scientific-oriented staff
* A successful track record of deploying decision support systems
“Combining Discovery Logic software, analytics and data mining capabilities with Thomson Reuters’ global resources will result in extraordinary workflow solutions and services to help our customers improve their outcomes,” said Mike Boswood, President & CEO of the Healthcare & Science business of Thomson Reuters. “It is clear that Discovery Logic’s ScienceWire and analytic service will serve as the foundation for a new technical paradigm that will propel our business forward in the future.”
“There is an increasing global need for analytics on grants, experts and research outcomes,” said Keith MacGregor, Executive Vice President of the Healthcare & Science business of Thomson Reuters. “Combining superior content, tools and services from Thomson Reuters with the customizable data analytics from Discovery Logic will enable our business to deliver a one-of-a-kind solution for evaluation and outcomes measurement.”
“Both Discovery Logic and Thomson Reuters specialize in transforming information into knowledge,” said Mike Pollard, who will continue with the business as Vice President and General Manager of Discovery Logic after the acquisition. “Together, our companies create an unmatched resource for global professionals needing to make crucial decisions on projects, people and research collaboration opportunities.”
Discovery Logic is a leading provider of systems, data and analytics for real-time portfolio management, decision support, outcomes tracking and information visualization. The company provides a unique software, data and analytics for relating people, organizations, ideas, grants, inventions, patents, publications and products worldwide.
Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, healthcare and science and media markets, powered by the world’s most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 50,000 people and operates in over 100 countries. For more information, go to www.thomsonreuters.com.
Cautionary Note Concerning Factors That May Affect Future Results
This news release includes forward-looking statements that are based on certain assumptions and reflect Thomson Reuters current expectations. Forward-looking statements are those that are not historical facts and include Thomson Reuters expectations about the Discovery Logic acquisition. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of the factors that could cause actual results to differ materially from current expectations include risks related to Healthcare & Science’s ability to successfully integrate the Discovery Logic business, and actions of Healthcare & Science’s competitors. Additional factors are discussed in materials that Thomson Reuters from time to time files with, or furnishes to, securities regulatory authorities. Thomson Reuters disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by applicable law.
SOURCE Thomson ReutersThis article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry