Thomson Reuters purchases buy-side tech firm REDI

September 22, 2016 10:17 AM EDT

The logo of Thomson Reuters is pictured at the entrance of its Paris headquarters, France, March 7, 2016. REUTERS/Charles Platiau

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LONDON (Reuters) - Thomson Reuters has agreed to acquire trading technology firm REDI Holdings, it said in a statement on Thursday.

Thomson Reuters said the REDIPlus execution management system would strengthen its Eikon financial markets desktop by making it easier for institutional customers to trade seamlessly on the platform.

The statement gave no details on the cost of the transaction.

"Integrating REDI into Thomson Reuters solutions will enable us to transform Eikon into a world-class trading solution for the buy-side," said Michael Chin, managing director, global head of equities at Thomson Reuters.

Reuters News is owned by Thomson Reuters.

(Reporting by Patrick Graham; editing by Susan Fenton)

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