REUTERS ADVANCES DEVELOPMENT OF SEARCH CAPABILITY WITH THE ACQUISITION OF CLEARFOREST

Deal will help develop Reuters advanced search backbone

ClearForest has received sufficient shareholder approval to complete the transaction, which is expected to close in approximately 30 days, subject to customary closing conditions. The financial terms were not disclosed. Reuters plans to retain and continue to work with the existing management team and their highly skilled workforces in the US and Israel. It also plans to continue to support existing products and customers.

Reuters believes that search will be a pivotal element to the future of how financial information is sourced and consumed. As part of its drive into this space, it has created a new strategic group within Reuters and appointed former head of search for AOL, Gerry Campbell, who will oversee the integration of ClearForest and drive this innovation.

Gerry Campbell, Reuters Global Head of Search & Strategic Development, said:
“This technology has the potential to impact the user experience across all Reuters products. ClearForest has developed a superior, commercially proven technology in the field of Text Analytics that will make it immensely easier for our customers to find, understand and navigate our content.”

Barak Pridor, CEO of ClearForest, said:
“Joining Reuters is a natural step forward for ClearForest. This will allow us to take our products and services to a whole new level and reach a much broader customer base. For our part, we will bring a range of skills and technological know-how that will enable Reuters customers to efficiently and profitably search the wealth of news, financial and other relevant information available today, as well as to derive previously unavailable business insights from that content.”

Contact:

Frank De Maria,
Reuters
Tel: +1 646 223 5507
Mobile: +1 917 215 4484
Email: frank.demaria@reuters.com

Steve Clarke,
Reuters
Tel: +44 207 542 6865
Email: steve.clarke@reuters.com

About Reuters

Reuters (www.reuters.com), the global information company, provides indispensable information tailored for professionals in the financial services, media and corporate markets. Through reuters.com and other digital properties, Reuters now also supplies its trusted content direct to individuals. Reuters drives decision making across the globe based on a reputation for speed, accuracy and independence. Reuters has 16,900 staff in 94 countries, including 2,400 editorial staff in 196 bureaux serving 131 countries. In 2006, Reuters revenues were £2.6 billion.

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