1993 Reuters Tightens Grip on MDDS Market
INSIDE MARKET DATA 20TH ANNIVERSARY ISSUE
Buying Teknekron, Reuters Tightens Grip On Data Delivery
As IMD went to press, Reuters had agreed to pay $125 million in cash to buy Teknekron Software Systems Inc., the vendor that has most frequently beat it in recent battles to sell digital data delivery systems to North American traders.
Under the purchase agreement, Teknekron will operate as an independent subsidiary based in Palo Alto, Calif. Reuters executives will occupy two of the five seats on its board.
For the hefty purchase price
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