BT and Reuters Sign Major Contract
BT is to become Reuters’ supplier of network services in a contract under which Reuters is expected to spend in the region of $3bn over eight and a half years. BT is also to acquire Radianz, the financial services extranet provider, from Reuters for $175m for the business plus any cash remaining on the balance sheet, net of working capital adjustments, at the date of completion. Under the network services agreement, BT will provide and manage secure data networks for Reuters products and services worldwide.
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