Description
Refinitiv is a global provider of financial market data and infrastructure. The company was founded in 2018. It is jointly owned by Blackstone Group LP which has a 55% stake and Thomson Reuters which owns 45%. The company has an annual turnover of $6bn with more than 40,000 client companies in 190 countries.
History
Thomson Reuters sold a 55% majority stake in its Financial & Risk (F&R) unit to private equity firm Blackstone Group LP on October 1, 2018, in a deal which valued the total F&R business at about $20 billion. This business was formed into Refinitiv. Under the deal, Thomson Reuters transferred its complete financial and risk product portfolio to Refinitiv, with the exception of Regulatory Intelligence, Risk Compliance Learning and Data Privacy Advisory Services. Company CEO David Craig presided over the transfer from Thomson Reuters, which he joined as Group Strategy Director in 2007. British-born Craig's previous role was a partner at US-based global management consulting firm McKinsey & Company.
In August 2019, London Stock Exchange Group agreed to buy the company in an all-share transaction valuing Refinitiv at $27 billion.
In March 2020, Refintiv announced the purchase of software-as-services firm Scivantage for an undisclosed amount.
