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Reuters Sells TowerGroup to MasterCard Advisors

At 01 Mar 2004 17:17:41 in MDI-News in Brief, MDI-Research Services, Market Data Insight    Print Article  Email Article   Full content requires subscription 

As expected, Reuters last month sold its TowerGroup independent research operation, to MasterCard Advisors, a subsidiary of credit card company MasterCard International. The sale – possibly ranging between $20-25 million – ends Reuters’ foray into the independent research area, despite earlier promises that it would leverage its expertise in text-based information to become a leading player in this burgeoning marketplace. For its part, MasterCard says it will maintain TowerGroup’s independent stance; in fact, MasterCard may be more of an independent parent than Reuters could ever be, given Reuters’ business and its portfolio of technology holdings. TowerGroup will report into the same executive who runs MasterCard’s existing Purchase Street Research business, Karen Cone (see Celebrity Citings, Page 11).

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