Thomson Reuters announced last November that they were exploring options for their Intellectual Property & Science unit.
Today they made a deal with private equity firms Onex Corp and Baring Private Equity Asia for $3.55 billion in cash.
The IP & Science unit is headquartered in my hometown of Philadelphia. The division contributed about 8 percent of Thomson Reuters’ total revenue of $12.2 billion in 2015.
Corporate registrar Mark Monitor is included in the sale. Onex is publicly traded in Toronto.
