NEW YORK - Thomson Reuters (NYSE:TRI) Corporation has successfully acquired a majority stake in the Swedish company Pagero Group AB, gaining a 53.81% controlling interest. The transaction involved a purchase offer of SEK 50 per share, which allowed Thomson Reuters to outpace competitors, including Vertex (NASDAQ:VRTX), in the bid for Pagero.
The board of Pagero Group endorsed the acquisition, which is seen as a strategic move for Thomson Reuters to bolster its capabilities in automated financial solutions. The acquisition is also expected to improve the company's offerings in international tax systems and invoicing processes.
Investors responded favorably to the news, with Thomson Reuters' stock price experiencing a 1.5% uplift following the announcement. The market's positive reaction underscores the potential benefits of the acquisition in terms of growth and expansion in the financial technology space.
The deal marks a significant step for Thomson Reuters in its efforts to expand its footprint in the industry and to offer more comprehensive services to its global clientele.
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