Thomson Reuters is “exploring strategic options” for its Intellectual Property & Science business.
The company provides customers with “comprehensive intellectual property and scientific information, decision support tools and services supporting the innovation lifecycle for governments, academia and corporations”.
In a statement Thomson Reuters president and chief executive, Jim Smith, said: “Our Intellectual Property & Science division contains growing and profitable businesses which operate in attractive markets. By sharpening our strategic focus, we are increasingly prioritising investments behind the many opportunities we see at the intersection of global commerce and regulation. I believe that Intellectual Property & Science will continue to thrive in the future and we want to put it in the best position possible to realise its potential.”
According to news agency Reuters, which is owned by Thomson Reuters, Smith sent an email to employees yesterday (11th November), saying: "While a few of IP & Science’s businesses operate at the intersection of global commerce and regulation, the vast majority of the unit does not align in the same way as our other business units.
"The decision we are announcing today reflects the difficult choices we must all make every day as we prioritise our resources and energy towards our key growth opportunities.”
Analysts estimate that the business, which has 3,200 employees, could be valued at more than $3bn.
Sanford Bernstein analyst Claudio Aspesi told Reuters that potential buyers for the business include Elsevier, John Wiley & Sons, Inc (JWa.N) and Springer Nature.