UPDATE 2: Thomson Reuters Buys DTCC's Clarient and Avox Reference Data Arms

The vendors expect to conclude the deals before the end of the first quarter, officials say.

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The deal had been in the works for five months, officials say. "We were approached to look at ways of acquiring both Clarient and Avox by the DTCC and [Clarient's] founder banks," says Dominic Mac, global head of business development for risk managed services at Thomson Reuters. "They approached us, recognizing our strength in operational capabilities where we run a managed service business. We have also been running operations of the KYC (know your customer) function over the last two years,