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Thomson Reuters to Buy FXall

Deal valued at $625 million; scheduled to close in third quarter.

Thomson Reuters has agreed to acquire FXall, which provides foreign exchange trading solutions for corporations, asset managers and financial firms. Thomson Reuters will pay $22 per share for FXall, putting the total value of the deal close to $625 million.

FXall’s biggest shareholder, Technology Crossover Ventures, its chairman and CEO, Phil Weisberg, and its CFO, John Cooley, collectively own about 32.5% of FXall’s shares and have agreed to sell those shares to Thomson Reuters. The deal is scheduled to close in the third quarter.

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