Information services provider Thomson Reuters, US, has announced that it has agreed to acquire Norwegian-based Point Carbon A/S. Point Carbon provides essential trading analytics, news and content for the energy and environmental markets. With this acquisition, Thomson Reuters seeks to further strengthen its offerings to the energy sector. Under the deal, Point Carbon's critical insight, market fundamentals and powerful analytics of key price drivers will be integrated with Thomson Reuters leading news and pricing service.
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, power, and gas markets. The company's valuable demand, supply and price predictive models are based on proprietary data collection and are used by thousands of traders and analysts globally.
Technological advances are increasing the breadth, depth and frequency with which information is available on physical commodity flows and fundamentals, such as power production, consumption and weather, as well as events like political actions or operational outages. As global economic development continues to boost energy needs in a carbon constrained world, the combination of Thomson Reuters and Point Carbon is expected to deliver the critical information and tools to allow market participants to optimise their business, investment and trading strategies in this evolving marketplace.
Following integration, Point Carbon content will be available through Thomson Reuters Eikon, the company's new desktop offering, slated for launch later this year. In addition Reuters Insider, Thomson Reuters recently launched financial video platform, will begin broadcasting from Oslo and elsewhere around the world programmes on the energy and environmental markets using Point Carbon's analysts and proprietary data.
The transaction is expected to close in the coming weeks. The terms of the agreement were not disclosed.
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