The Thomson Corporation announced that it has signed an agreement to acquire privately held Quantitative Analytics, Inc. (QAI), a leading provider of financial database integration and analysis solutions. QAI's software solutions are used by more than 200 of the world's most prominent investment firms for securities selection, modeling, back testing, portfolio construction and trading strategy development. Financial terms of the transaction were not disclosed.
QAI integrates multiple data sources, including proprietary customer data, to create an integrated database of financial information and provides a suite of analytical tools to query or "mine" the database for insights and trading ideas. Upon completion of the acquisition, Thomson Financial will have the ability to deliver integrated, multi-asset class workflow solutions on a global basis.
All of QAI's management team and employees will become part of the Investment Management segment of Thomson Financial and will continue to develop industry leading analytics.
Thomson and QAI have received confirmation that the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has been terminated. Thomson and QAI expect to close the transaction shortly, subject to the satisfaction of customary closing conditions.
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