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Consolidation Gets Real as Thomson Reuters Buys HighQ

Official statement below – analysis to follow shortly.

Thomson Reuters (TSX/NYSE: TRI) today announced that it has acquired HighQ, a leading collaboration platform for the legal and regulatory market. Based in London with offices in the United States, Germany, the Netherlands, Australia and India, HighQ offers a secure cloud-based platform for business collaboration, workflow automation and client engagement. HighQ currently serves more than 400 customers, including more than half of the Global 100 largest law firms.

Thomson Reuters provides its customers with solutions that help them generate more efficiencies, lower costs, improve accuracy and reduce risk. This acquisition will expand on the company’s strategic objective to provide more cloud-based software offerings and will meet a growing market need for legal professionals, aligning with Thomson Reuters focus on legal, tax, compliance and risk.

“This deal follows our recent acquisition of Confirmation, a leading provider of secure audit services, and reinforces our strategy of carefully investing to grow our core offerings in the world of business information services,” said Jim Smith, president and CEO, Thomson Reuters.

“HighQ’s software platform is flexible, user-friendly and integrates with other leading-edge technology to provide a seamless user experience,” he continued. “This acquisition will position us with an open best-in-class platform at the heart of the legal software ecosystem. It provides us with an opportunity to leverage our channels to sell HighQ to thousands of large and medium-sized law firms and corporate legal departments globally. It also brings impressive software development talent into our organization.”

“Legal professionals are being disrupted by technology change and are seeking software solutions to help them improve costs and increase productivity,” said Brian Peccarelli, COO, Customer Markets at Thomson Reuters and head of its Legal Professionals segment. “The acquisition of HighQ will help us meet customer needs for efficient, compliant workflow collaboration solutions, and supports our ongoing approach to providing open technologies and driving customer innovation.”

“Our intelligent workflow platform allows legal professionals and in-house corporate legal departments to collaborate on projects, matters and transactions, transforming legal service delivery and creating compelling digital experiences for clients and business,” said Ajay Patel, CEO and founder of HighQ. “We are excited to expand our global footprint and leverage the Thomson Reuters network to support and serve across several vertical industries and geographies.”

Financial terms of the transaction were not disclosed.

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