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Data, not desktop products, is the future of F&R - Blackstone

The future of the Thomson Reuters financial and risk business, a majority interest of which is being sold, is in data, not in selling terminal desktop products to traders, bankers and investors, the head of purchaser Blackstone said.

“We’re big believers in data and that’s certainly a driver behind the Thomson Reuters business,” the US private equity firm’s president Tony James (photo) said on Thursday in a call with analysts following his firm’s fourth-quarter earnings. He had been asked how Blackstone was looking at opportunities in data technology and how it might expand its expertise in that area.

“The most valuable part of that business by far is the data part,” James said. “The terminals are the legacy business for which people think of them but that’s not where the future of that company is.” He gave no further details. ■