Reuters to Acquire Multex

Posted on February 22, 2003

Reuters Group PLC, a global information company, and Multex.com, Inc., a provider of global financial information, have entered into an agreement for Reuters to acquire Multex. Based in New York, Multex offers financial information on over 25,000 active companies. Isaak Karaev, Chairman and Chief Executive Officer of Multex, will become President of Reuters Investment Banking and Brokerage segment after the acquisition closes.

Reuters plans to use Multex's content, access to the research community and market experience to strengthens its financial information products. Outside of the professional financial markets, Reuters will use Multex's assets to create segmented online financial news, data and research products for retail consumers as well as corporate and media customers.

Tom Glocer, Reuters Group Chief Executive, said, "Multex will play an important part in "Fast Forward," our drive to become a more competitive, focused and profitable information company. We know this company well. It offers compelling information and products that are valued by financial professionals and consumers alike. At a time of structural change in the financial markets, its investment research assets and relationships are particularly attractive. We plan a quick and full integration that we expect to yield cost savings within both organisations and that will enable us to take Multex's business to scale with the help of Reuters global distribution infrastructure. Multex and its talented staff will add lasting value to Reuters."

J.P. Morgan plc acted as financial advisor and Sullivan & Cromwell LLP served as legal counsel to Reuters. Bear, Stearns & Co. Inc. acted as financial advisor and Davis, Polk & Wardwell served as legal counsel to Multex. In addition, MacKenzie Partners, Inc. has been retained by Reuters to act as Information Agent for its tender offer.