06.20.2016

Thomson Reuters Is in Advanced Talks to Purchase REDI

(This article originally appeared on Bloomberg Technology)

Thomson Reuters Corp. is in late-stage talks to purchase trading technology company Redi Global Technologies LLC, according to people familiar with the matter.

One of the people familiar declined to comment on the value of the deal, and all asked not to be named because the talks are private. Bloomberg News reported in February that Redi, which was once majority owned by Goldman Sachs Group Inc., was considering options including a sale. At the time, the technology provider was valued at under $200 million, Bloomberg reported.

While negotiations are advanced, no final decision has been made and the deal may still not happen, one of the people said.

Spokesmen for Thomson Reuters and Redi declined to comment.

Goldman Sachs sold its majority stake in New York-based Redi in 2013 to a group of Wall Street firms including Bank of America Corp., Barclays Plc, BNP Paribas SA, Citadel and Lightyear Capital. Goldman kept a minority stake after the sale. Rishi Nangalia, Redi’s chief executive officer, previously co-managed Goldman Sachs’s electronic trading business development group.

Bloomberg LP, the parent company of Bloomberg News, competes with Thomson Reuters in providing news and financial information and has a product called EMSX that competes with Redi.

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