Today, we announced that Thomson Reuters has acquired FC Business Intelligence (FCBI), a global business-to-business events specialist, which will now be called Reuters Events.
This is an exciting moment that will boost both organizations.
Reuters is the world’s largest multimedia news provider. Our award-winning journalism reaches billions of people every day. Now we want to build a world-class business to match that world-class journalism. Since becoming a standalone P&L within Thomson Reuters last year, we have developed a clear mission as a business: to provide trusted intelligence that powers humans and machines to make smart decisions.
This includes identifying new opportunities for inorganic growth that complement our mission, align with our Trust Principles and enhance the service we offer our customers: Refinitiv, news agency clients and professionals.
FCBI’s specialized and market-leading events business satisfies all these criteria. Here’s why:
In creating Reuters Events, we bring together Reuters globally trusted brand, scale and editorial excellence with FCBI’s domain expertise. Content-led conferences for professionals are a natural fit for a leading media brand, and FCBI’s hyper-focused events in highly specialized industry sectors complement Reuters extensive, in-depth coverage. Importantly, both organizations share a passion for helping professionals make smart decisions.
Reuters is committed to the Trust Principles of independence, integrity and freedom from bias, which define both how we report on the world and how we do business. FCBI has built a reputation as a trusted and respected independent events business. There is a strong and natural cultural alignment, and complementary skill sets within the two groups of highly-talented staff. The Trust Principles will remain paramount and apply to the newly integrated business.
NEW GROWTH OPPORTUNITIES
Content-led events for professionals is an estimated $17 billion market segment with strong revenue growth. Reuters global presence and brand recognition means we have the opportunity to accelerate FCBI’s revenue growth in new areas. We see opportunities to expand FCBI offerings into new geographies and industries, providing another revenue stream in an adjacent market.
We can generate additional value from Reuters Events by selling Reuters Plus, broadcast solutions and Reuters.com offerings to new and existing customers. Reuters Events will be able to offer packages to clients that combine display advertising, content marketing, video production and event sponsorship.
Furthermore, Reuters Events will help bring the Reuters brand to life for attendees worldwide, allowing us to engage our professional audience in a live setting that will bring our editorial excellence to the forefront.
FCBI is a highly successful, well respected and fast-growing events company and we are excited to build on the momentum they have created. As Reuters Events, they will provide us with another platform to support and showcase our world-class journalism, create a new revenue opportunity and help accelerate our growth. I am thrilled that they are becoming part of the Reuters family.
[Reuters PR Blog Post]
Jamie.austin @ thomsonreuters.com