Topic: How To Invest

The Successful Investor Hotline – Friday, June 30, 2023

Article Excerpt

THOMSON REUTERS CORP., $178.86, Toronto symbol TRI, is a buy. The company sells specialized information (mainly through electronic channels) to professionals in the legal, and tax and accounting fields. It also owns the Reuters news service. Thomson is now buying Casetext, a private firm based in California that uses artificial intelligence (AI) software to help lawyers research previous cases and prepare documents. The company will pay $650 million U.S. when it completes the purchase in the second half of 2023. To put that cost in context, it earned $387.9 million U.S., or $0.82 U.S. a share, in the three months ended March 31, 2023. Thomson also announced that it’s paying an undisclosed sum for Imagen. Based in the U.K., this firm helps sports teams and media companies manage their images and video content on its cloud-based Screenocean platform. The service makes it easier for clients to license their content. Imagen will become part of the Reuters division, which already operates a similar marketplace for text, images…