September 23, 2011

Vista Equity Partners, a US-based private equity firm, has made a binding offer to acquire the Thomson Reuters Trade and Risk Management business.

Thomson Reuters has agreed to sell its trading and risk management business Kondor to Vista Equity Partners, a U.S.-based private equity firm.

The trade processing and risk management business currently operates as a distinct unit within the firm’s enterprise solutions business, according to today’s release.

Financial details of the transaction weren't disclosed. According to today’sWall Street Journal, the business, technically called Thomson Reuters Financial Risk but best known for its Kondor product, was expected to fetch as much as $600 million-$650 million.

In an auction described as “hotly fought:, the WSJ reports:

U.S.-based Vista Equity Partners beat off competition from a plethora of buyout firms including Bridgepoint, Cinven and Montague which made it into the final round. The auction attracted other private-equity firms such as 3i Group PLC (III.LN), Advent International and CVC Capital Partners along with trade buyers in earlier rounds.

Barclays Capital ran the auction and acted as the sole advisor to Thomson Reuters.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in ...