Thomson Reuters enters into definitive agreement to sell FindLaw business to Internet Brands pending regulatory approvals
Thomson Reuters (TSX/NYSE: TRI) has announced a definitive agreement to sell its FindLaw business to Internet Brands, pending regulatory approvals. The transaction is expected to close in the fourth quarter of 2024. FindLaw, established over 20 years ago, is a premier destination for legal assistance and a key marketing platform for law firms.
Internet Brands, a fully integrated online media and software services company, operates digital platforms in high-value vertical categories, including Health and Legal. This sale will allow both Thomson Reuters and Internet Brands to focus on their strategic priorities, while ensuring continued top-tier service for FindLaw customers.
Centerview Partners served as financial advisor to Thomson Reuters for this transaction.
Thomson Reuters (TSX/NYSE: TRI) ha annunciato un accordo definitivo per vendere la sua attività FindLaw a Internet Brands, in attesa delle approvazioni normative. Si prevede che la transazione si concluda nel quarto trimestre del 2024. FindLaw, fondata oltre 20 anni fa, è una destinazione principale per assistenza legale e una piattaforma di marketing chiave per gli studi legali.
Internet Brands, un'azienda completamente integrata di media online e servizi software, gestisce piattaforme digitali in categorie verticali ad alto valore, tra cui Salute e Legale. Questa vendita permetterà sia a Thomson Reuters che a Internet Brands di concentrarsi sulle loro priorità strategiche, garantendo al contempo un servizio continuo di alto livello per i clienti di FindLaw.
Centerview Partners ha fungendo da consulente finanziario per Thomson Reuters in questa transazione.
Thomson Reuters (TSX/NYSE: TRI) ha anunciado un acuerdo definitivo para vender su negocio FindLaw a Internet Brands, sujeto a aprobaciones regulatorias. Se espera que la transacción concluya en el cuarto trimestre de 2024. FindLaw, establecido hace más de 20 años, es un destino principal para asistencia legal y una plataforma de marketing clave para bufetes de abogados.
Internet Brands, una empresa completamente integrada de medios en línea y servicios de software, opera plataformas digitales en categorías verticales de alto valor, incluidas Salud y Legal. Esta venta permitirá a Thomson Reuters e Internet Brands enfocarse en sus prioridades estratégicas, al tiempo que garantiza un servicio continuo de primer nivel para los clientes de FindLaw.
Centerview Partners actuó como asesor financiero de Thomson Reuters para esta transacción.
톰슨 로이터(주식 코드: TRI)는 자사의 FindLaw 비즈니스를 인터넷 브랜드에 매각하기 위한 확정 계약을 체결했다고 발표했습니다, 규제 승인을 기다리고 있습니다. 거래는 2024년 4분기에 заверш될 것으로 예상됩니다. FindLaw는 20년 이상 전보다 먼저 설립된 법률 지원을 위한 주요 목적지이자 법률 사무소의 핵심 마케팅 플랫폼입니다.
인터넷 브랜드는 완전하게 통합된 온라인 미디어 및 소프트웨어 서비스 회사로, 건강 및 법률 등 고부가가치 수직 카테고리에서 디지털 플랫폼을 운영합니다. 이 판매는 톰슨 로이터와 인터넷 브랜드가 전략적 우선 사항에 집중할 수 있도록 하며, FindLaw 고객에게 지속적으로 최고 수준의 서비스를 제공하도록 보장합니다.
Centerview Partners는 이 거래에 대해 톰슨 로이터의 재무 자문으로 활동했습니다.
Thomson Reuters (TSX/NYSE: TRI) a annoncé un accord définitif pour vendre son activité FindLaw à Internet Brands, sous réserve des approbations réglementaires. La transaction devrait être conclue au quatrième trimestre 2024. FindLaw, créé il y a plus de 20 ans, est une destination de choix pour l'assistance juridique et une plateforme de marketing clé pour les cabinets d'avocats.
Internet Brands, une entreprise entièrement intégrée de médias en ligne et de services logiciels, gère des plateformes numériques dans des catégories verticales à forte valeur, y compris la santé et le juridique. Cette vente permettra à Thomson Reuters et à Internet Brands de se concentrer sur leurs priorités stratégiques, tout en garantissant un service continu de premier ordre pour les clients de FindLaw.
Centerview Partners a agi en tant que conseiller financier de Thomson Reuters pour cette transaction.
Thomson Reuters (TSX/NYSE: TRI) hat eine endgültige Vereinbarung über den Verkauf seines FindLaw-Geschäfts an Internet Brands angekündigt, vorbehaltlich regulatorischer Genehmigungen. Der Abschluss der Transaktion wird im vierten Quartal 2024 erwartet. FindLaw, das vor über 20 Jahren gegründet wurde, ist ein erstklassiges Ziel für juristische Unterstützung und eine Schlüsselmarketingplattform für Anwaltskanzleien.
Internet Brands, ein vollständig integriertes Unternehmen für Online-Medien und Softwaredienstleistungen, betreibt digitale Plattformen in hochwertigen vertikalen Kategorien, einschließlich Gesundheit und Recht. Dieser Verkauf wird es sowohl Thomson Reuters als auch Internet Brands ermöglichen, sich auf ihre strategischen Prioritäten zu konzentrieren, während gleichzeitig ein weiterhin erstklassiger Service für die Kunden von FindLaw sichergestellt wird.
Centerview Partners diente als Finanzberater für Thomson Reuters bei dieser Transaktion.
- Strategic divestment allowing Thomson Reuters to focus on core business priorities
- Expected closure of the deal in Q4 2024, indicating a clear timeline for completion
- None.
Insights
Thomson Reuters' sale of FindLaw to Internet Brands is a strategic move that could have mixed implications for investors. The deal allows TRI to streamline its portfolio and focus on core businesses, potentially improving operational efficiency. However, it also means divesting a well-established legal platform, which may impact revenue in the short term.
While financial details are not disclosed, the transaction likely provides TRI with additional capital to reinvest in growth areas or return to shareholders. The Q4 2024 expected closing suggests a relatively smooth regulatory process, minimizing execution risk.
Internet Brands' expertise in digital platforms, particularly in the legal sector, could lead to synergies and expanded market reach for FindLaw. This may benefit TRI indirectly through potential ongoing partnerships or revenue-sharing agreements, though such details are not specified.
Investors should monitor TRI's post-divestiture performance and any guidance on how the proceeds will be utilized. The impact on TRI's financial statements and growth trajectory will be important in assessing the long-term value of this strategic decision.
Over the last 20 years, FindLaw has established itself as a premier destination for legal assistance and a key marketing platform for law firms. Internet Brands' proprietary operating model has powered best-in-class digital platforms for consumers and commercial partners since 1998 and is well-positioned to invest in and expand the FindLaw business.
This transaction will allow both Thomson Reuters and Internet Brands to concentrate on their strategic priorities, ensuring customers continue to receive top-tier service and support from FindLaw.
The transaction is expected to close in the fourth quarter of 2024, pending regulatory approvals.
Centerview Partners LLC served as financial advisor to Thomson Reuters.
Thomson Reuters
Thomson Reuters (TSX/NYSE: TRI) informs the way forward by bringing together the trusted content and technology that people and organizations need to make the right decisions. The company serves professionals across legal, tax, accounting, compliance, government, and media. Its products combine highly specialized software and insights to empower professionals with the data, intelligence, and solutions needed to make informed decisions, and to help institutions in their pursuit of justice, truth, and transparency. Reuters, part of Thomson Reuters, is a world leading provider of trusted journalism and news. For more information, visit tr.com.
Internet Brands
Internet Brands®, headquartered in El Segundo, Calif, is a fully integrated online media and software services company focused on four high-value vertical categories: Health, Automotive, Legal, and Home/Travel. The company's properties and platforms include the WebMD, Medscape, and Henry Schein ONE networks, which are the global leaders in their markets; Nolo, Avvo, and Martindale, which form the largest consumer information provider in the legal market; and CarsDirect, Fodor's Travel, and many others which are leaders in their key vertical markets. Internet Brands' award-winning consumer websites lead their categories and serve more than 250 million monthly visitors, while a full range of web presence offerings has established deep, long-term relationships with SMB and enterprise clients. The company's powerful, proprietary operating platform provides the flexibility and scalability to fuel the company's continued growth. Internet Brands is a portfolio company of KKR and Warburg Pincus.
Special Note Regarding Forward-Looking Statements, Material Risks and Material Assumptions
Certain statements in this news release are forward-looking, including but not limited to the expected closing date of the proposed transaction. The words "will", "expect" and similar expressions identify forward-looking statements. While Thomson Reuters believes that it has a reasonable basis for making forward-looking statements in this news release, they are not a guarantee of future performance or outcomes and there is no assurance that any of the other events described in any forward-looking statement will materialize. Forward-looking statements are subject to a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from current expectations. Many of these risks, uncertainties and assumptions are beyond Thomson Reuters' control and the effects of them can be difficult to predict. You are cautioned not to place undue reliance on forward-looking statements which reflect expectations only as of the date of this news release. Except as may be required by applicable law, Thomson Reuters disclaims any obligation to update or revise any forward-looking statements.
Media Contacts:
Thomson Reuters
Lindsay Bomar
Lindsay.Bomar@thomsonreuters.com
Internet Brands
Joe Ewaskiw
joe.ewaskiw@internetbrands.com
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SOURCE Thomson Reuters
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