Thomson Reuters To Explore Options For Intellectual Property & Science Business

(RTTNews) - Financial information provider Thomson Reuters (TRI, TRI.TO) said it is exploring strategic options for its Intellectual Property & Science business.

With products and solutions such as Web of Science, Thomson CompuMark, Thomson Innovation, MarkMonitor, Thomson Reuters Cortellis and Thomson IP Manager, the Intellectual Property & Science business provides its customers with comprehensive intellectual property and scientific information, decision support tools and services supporting the innovation lifecycle for governments, academia and corporations.

Intellectual Property & Science had revenues of about $1.0 billion and a segment EBITDA margin of 32.4 percent in 2014, representing about 8 percent of the company's 2014 revenues and about 10 percent of the company's 2014 adjusted EBITDA. Thomson Reuters full-year 2015 consolidated results will include Intellectual Property & Science's results.

Thomson Reuters said it plans to use any net proceeds from a potential transaction for general corporate purposes, including investing in its core businesses, repaying debt and accelerating share buyback activity.

Thomson Reuters also said it has appointed Vin Caraher as President of the Intellectual Property & Science business, effective immediately. Basil Moftah, formerly President of Intellectual Property & Science, is leaving Thomson Reuters to pursue other opportunities.