Reuters Buys Quotron: Takes Citi's Money, Sets Interim Team

VENDOR STRATEGIES

Just an hour before their letter of intent was set to expire, Citicorp and Reuters came to terms and on March 31 Reuters became Quotron's new owner. With the formal purchase, Reuters has embarked on a two-year plan whose goal is to integrate Quotron's business into Reuters America.

Since cutting the deal -- in which Citi gives Reuters $80 million -- Reuters has made clear that it will continue to support Quotron's IBM RS/6000-based Advantage AE service. The new parent will also retain "at lea

To continue reading...