Acquirement Strategies for Thomson Reuters
Thomson Reuters, known for its data, information, and advisory services in legal, tax, and accounting sectors, is doubling down on its use of AI to innovate and transform its offerings. With a substantial $10bn investment for acquiring startups, the company is actively seeking opportunities to enhance its product development.
The company’s chief product officer, David Wong, emphasizes that Thomson Reuters follows a strategy of “build, partner and buy” when it comes to product development. By acquiring startups with new capabilities or faster solutions, like the recent acquisitions of Pagero, Safe Sign Technologies, and Materia, Thomson Reuters aims to leverage domain expertise for specialized, domain-specific problems.
Wong highlights the importance of startups focusing on GenAI technology, specializing in narrow problem-solving areas to deliver high-quality outcomes. By investing in startups with “agentic” AI capabilities that can automate tasks seamlessly, Thomson Reuters aims to assist professionals like lawyers, accountants, and tax preparers in their work.
For startups interested in partnering with Thomson Reuters, Wong suggests reaching out to Thomson Reuters Ventures, the company’s early-stage investment fund. Demonstrating a strong fit with Thomson Reuters’ product teams, and focusing on complementary solutions for customers, is key when establishing a partnership ahead of a potential acquisition. Wong notes that European startups, with a global outlook, bring valuable perspectives to the table compared to US-centric counterparts.
Overall, Thomson Reuters is actively seeking innovative startups to collaborate with, offering a pathway for mutual growth and success in the evolving landscape of AI technology.
