• Mon. Sep 25th, 2023

Thomson Reuters and TPG to build Elite as an impartial authorized tech firm

SAN FRANCISCO FORT Truly worth, Texas TORONTO – April 4, 2023 TPG (NASDAQ: TPG) and Thomson Reuters (TSX/NYSE: TRI) right now declared that they have signed a definitive settlement for TPG to obtain a vast majority stake in Elite from Thomson Reuters, valuing the business enterprise at about US$500 million. The Elite organization presents monetary and exercise administration options to the world’s major regulation companies, serving to prospects automate and streamline significant finance and accounting workflows.

The transaction will empower Elite to operate with increased focus, offering more assets and know-how to speed up advancement and greater help its customers as they digitally remodel to satisfy the evolving requirements of their clientele. On closing of the transaction, TPG Cash, TPG’s U.S. and European late-stage personal fairness business enterprise, will grow to be the bulk shareholder of the standalone organization. Thomson Reuters will keep a minority possession stake in the business enterprise and have board illustration, supporting Elite strategically heading forward.

“We really feel strongly that the new financial commitment from TPG, together with Thomson Reuters minority ownership and board illustration, will place Elite to make sure our customers’ ongoing results,” explained Paul Fischer, President of the Legal Industry experts enterprise of Thomson Reuters. “We continue being dedicated to supplying our experience and encounter to support develop Elite even though dedicating larger aim and financial investment in the space of content-enabled engineering, such as AI and automated workflow alternatives, to superior empower buyers in the follow of law and to perform their do the job much more competently.”

“TPG has a background of investing in software businesses that tackle the distinctive needs of vertical marketplaces. We consider the legal market is a market place that is going through electronic transformation, and Elite associates with main firms on that journey,” said Tim Millikin, Lover at TPG. “Elite’s trusted know-how, strong buyer foundation, and substantial progress possible has produced the organization a apparent chief between the greatest law companies, and we look ahead to doing the job with the group to enrich and extend the platform.”

Elite gives a suite of methods, led by its flagship supplying 3E as well as ProLaw, eBillingHub, and MatterSphere, aimed at strengthening legislation business finance and accounting functions, which includes billing, invoicing, payments, and financial reporting. Elite will retain current integrations with Thomson Reuters products.

Closing of the transaction is issue to specified regulatory approvals and customary closing ailments and is expected to arise in the 2nd quarter of 2023. Baker McKenzie is serving as authorized counsel to Thomson Reuters, and Davis Polk & Wardwell LLP is serving as legal counsel to TPG.


TPG is a foremost worldwide alternate asset administration firm, established in San Francisco in 1992, with $135 billion of assets underneath management and financial investment and operational groups close to the planet. TPG invests across five multi-tactic platforms: Capital, Progress, Affect, True Estate, and Current market Options and our one of a kind technique is driven by collaboration, innovation, and inclusion. Our groups incorporate deep product or service and sector practical experience with broad abilities and expertise to create differentiated insights and insert price for our fund traders, portfolio businesses, administration teams, and communities. For additional information and facts, go to www.tpg.com or on Twitter @TPG.

Thomson Reuters

Thomson Reuters is a top provider of business facts providers. Our merchandise include things like remarkably specialised info-enabled software package and resources for authorized, tax, accounting and compliance gurus combined with the world’s most worldwide news service – Reuters. For more information on Thomson Reuters, visit tr.com and for the newest globe news, reuters.com.

Unique Observe Relating to Forward-Seeking Statements, Product Dangers and Material Assumptions

Selected statements in this information launch are forward-looking, like but not limited to the anticipated closing date and the strategic positive aspects of the proposed transaction. The phrases “will”, “expect”, “believe” and similar expressions determine forward-searching statements. Whilst Thomson Reuters believes that it has a realistic basis for generating forward-seeking statements in this information launch, they are not a warranty of potential efficiency or results and there is no assurance that any of the other events explained in any forward-seeking statement will materialize. Ahead-hunting statements are issue to a quantity of challenges, uncertainties and assumptions that could bring about real effects or occasions to differ materially from present-day anticipations. Many of these dangers, uncertainties and assumptions are further than Thomson Reuters’ control and the consequences of them can be tough to predict. You are cautioned not to spot undue reliance on forward-on the lookout statements which mirror expectations only as of the day of this news release. Other than as might be required by relevant legislation, Thomson Reuters disclaims any obligation to update or revise any ahead-wanting statements.

Make contact with

Thomson Reuters

Jeff McCoy
+1 763 326 4421
[email protected]

Gary E. Bisbee, CFA
Head of Investor Relations
+1 646 540 3249
[email protected]

Leslie Shribman and Courtney Electric power
[email protected]


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