Thomson Reuters Corp. yesterday announced it agreed to sell its intellectual property and science business to private-equity funds affiliated with Onex Corp. and Baring Private Equity Asia for $3.55 billion in cash.
The business's portfolio includes of Science, Thomson CompuMark, Thomson Innovation, MarkMonitor, Thomson Reuters Cortellis and Thomson IP Manager.
Thomson Reuters plans to use $1 billion of the proceeds to buy back shares and additional funds to pay off debt and invest in company operations.
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The Wall Street Journal.