Allen & Overy has advised Thomson Reuters Corp on the sale of its Intellectual Property and Science (IP&S) business to private equity firms Onex Corp and Baring Private Equity Asia, which were represented by Latham & Watkins, for $3.55 billion in cash. 

The IP&S division sells information, tools and services to academia, corporations, governments and the legal community. Its portfolio includes Web of Science, Thomson CompuMark, Thomson Innovation, MarkMonitor, Cortellis and Thomson IP Manager. 

This divestiture is part of Thomson Reuters’ strategy to focus on the intersection of global commerce and regulation and to reinvest the proceeds from the transaction in the business. The division contributed about 8 percent of Thomson Reuters' total revenue of $12.2 billion in 2015, according to Reuters.

 

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