Thomson Reuters Buys Point Carbon to Extend Energy Market Insight
Thomson Reuters has agreed to acquire Point Carbon, a Norwegian-based provider of trading analytics, news and content for the energy and environmental markets.
This acquisition strengthens Thomson Reuters offerings to the energy sector through the combination of Point Carbon’s insight, market fundamentals and analytics of key price drivers with Thomson Reuters news and pricing service.
Point Carbon provides banks, traders, portfolio managers, corporations and governments with critical insights based on deep industry knowledge and sophisticated modelling capabilities across the carbon, power, and gas markets. Point Carbon’s valuable demand, supply and price predictive models are based on proprietary data collection and are used by thousands of traders and analysts globally.
Shaun Sibley, global head of commodities and energy, Thomson Reuters, said: “This acquisition underscores Thomson Reuters commitment to the global energy markets and supports our growth plans for our leading commodity and energy business. Thomson Reuters clients will benefit from greater expertise and highly innovative technologies that will provide further granularity and a more sophisticated view of market conditions and their impact on price and trading. We will look to expanding our business to new customers, geographies and asset classes.”
Following integration, Point Carbon content will be available through Thomson Reuters Eikon, the company’s new desktop offering to be launched later this year. In addition Reuters Insider, Thomson Reuters recently launched financial video platform, will begin broadcasting from Oslo and elsewhere around the world programs on the energy and environmental markets using Point Carbon’s analysts and proprietary data.