Thomson Reuters buying crime prevention company for $530 million

Media giant Thomson Reuters (TRI) today announced that it will acquire World-Check, a London-based provider of financial crime and corruption prevention information for businesses. The sellers are private equity firms Spectrum Equity Investors and HarbourVest Partners, which acquired World-Check in April 2007. Spectrum holds the larger piece.

No financial terms were disclosed, but a source familiar with the deal says the sale price was around $530 million. That represents around a 3.5x return for the PE firms.

No word yet on if the deal is in cash or stock (or a combination), but I’d guess cash based on the following statement from Thomson Reuters CEO Tom Glocer:

“Managing risk across the enterprise is a key concern for our customers,” said Thomas H. Glocer, chief executive officer of Thomson Reuters. “I’m pleased we have secured this excellent opportunity to reinvest some of the proceeds of our recently announced dispositions as we pursue our global growth strategy.”

Thomson Reuters will use World-Check to expand its Governance, Risk & Compliance business, with World-Check CEO Dan Peak staying on in an executive capacity.

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