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Hsbc Bk. 21 | LSE:11PT | London | Medium Term Loan |
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RNS Number:6502F Thomson Corporation 21 June 2001 ( BW)(NY-THOMSON-FINANCIAL)(TOC.TO) Thomson Financial Acquires Full Ownership of First Call Business Editors NEW YORK--(BUSINESS WIRE)--June 21, 2001-- Purchases Outstanding Shares From Eight Brokerage Partners Thomson Financial announced today that it has purchased the outstanding minority shares of First Call Corporation, the leading provider of real-time, commingled broker research, analyst estimates, workflow and technology based solutions. Terms of the transaction were not disclosed. Thomson Financial, which founded First Call in 1984, previously owned 52 percent of the shares, and purchased the remaining 48 percent of shares from its eight strategic brokerage partners, including: Credit Suisse First Boston, Salomon Smith Barney, Morgan Stanley, Deutsche Bank Securities, Merrill Lynch, UBS PaineWebber, Lehman Brothers, and Prudential. Thomson Financial will maintain its relationships with these partners and will continue to receive reports and related data from the previous owners. "This new ownership structure allows us to fully integrate First Call with other Thomson Financial product offerings as we continue to rapidly build upon our complete workflow solution offerings," said Patrick J. Tierney, president and chief executive officer of Thomson Financial. "This aggressive move further advances our position as the market leader of providing necessary and critical industry data, and underscores our ability to best service the complex information needs of the global financial marketplace." "First Call is the investment community's primary source of commingled broker research, estimates and related content and technology solutions. The added flexibility gained as a result of this business transaction will enable us to leverage all of Thomson Financial's information and technology assets to provide unrivalled integrated content and workflow solutions for our global client base," noted Suresh Kavan, CEO, Broker/Fund Management Group, which includes First Call. "Under this new ownership arrangement, our relationships with the former broker owners will deepen and strengthen. We look forward to continuing to serve them as our clients, contributors and business partners on a broad variety of exciting initiatives." "This transaction makes sense for everyone involved," noted Tom Trivella from Credit Suisse First Boston. "We look forward to continuing our relationship with Thomson and First Call as a contributor of content, as a customer and a business partner." The First Call purchase is part of an extensive business and product development program underway in Thomson Financial's Broker/Fund Management Group. Some innovative new products and services to be released this summer include Thomson Financial Active Express (v. 3.5) and Target Web. Thomson Financial Active Express brings together best-of-breed content on a single platform and incorporates sophisticated analytical tools that help money managers make superior investment decisions. Content is aggregated from Thomson Financial's First Call, I/B/E/S, Worldscope and Portia as well as third party sources. Extending Thomson Financial's sell-side offerings, Target Web helps brokers more accurately target the distribution of their research to the worldwide money management community. Target Web becomes the latest addition to the Full Circle suite of products, a comprehensive set of workflow solutions that streamline the research production, targeting and distribution processes of brokers. Additionally, Thomson Financial offers custom ASP solutions for its brokerage clients, combining best-in-class content and sophisticated component-based technology. About Thomson First Call Corporation First Call Corporation is the global financial community's leading provider of real-time broker-sourced research, analyst estimates, equity and fixed income ownership information, workflow and technology-based solutions. More than 6,000,000 research documents are available on the FIRST CALL Network. First Call's distribution capabilities, research services, competitive intelligence product, usage reports and customized business solutions provide value-added links between the institutional buy-side and the sell-side worldwide. For more information, visit First Call's Web site at www.firstcall.com. About Thomson Financial Thomson Financial is a US$2 billion provider of information and technology solutions to the worldwide financial community. Through the widest range of products and services in the industry, Thomson Financial helps clients in more than 70 countries make better decisions, be more productive and achieve superior results. Thomson Financial is part of The Thomson Corporation (TSE:TOC), a leading, global e-information and solutions company with annual revenues of approximately US$6.0 billion. The Corporation's common shares are listed on the Toronto and London stock exchanges. For more information, visit Thomson Financial's Web site at www.thomsonfinancial.com. --30--jgm/ny* CONTACT: The Thomson Corporation Investor Contact: John Kechejian, 203/328-9470 john.kechejian@thomson.com or Thomson Financial Allison Hagan, 646/822-2076 allison.hagan@tfn.com
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