paidContent - Thomson Reuters Buys Indian Legal Online Database Company
Wednesday, July 8, 2009; 1:29 PM
Another acquisition by Thomson Reuters: it has acquired private equity backed Indlaw Communications, a Delhi-based legal information company, for an undisclosed amount. Indlaw runs a legal, tax and regulatory information database website at Indlaw.com. The site, founded by lawyer Joseph Pookkatt in 2002, had received early stage investment from private equity firm 2i Capital. The company provides access to information on various primary and secondary legal documents such as judgments, parliamentary and state enactments, notifications, circulars and rules, constitutional texts, parliamentary debates, to customers like law firms, solicitors, advocates, businesses and students.
With the recent global meltdown, financial information services companies have been suffering from loss of clients globally. The acquisition of Indlaw by Thomson Reuters (NSDQ: TRIN) is an example of how large information companies are looking at fast growing markets like India for expanding their footprint. Thomson is already present in financial data in Indian market.
This is also the second acquisition Reuters has announced this week: it acquired the Toronto-based webcasting software firm Streamlogics.
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