BT and Reuters sign major contract; BT also to acquire Radianz from Reuters.

0 Comments | M2 Presswire, March, 2005

M2 PRESSWIRE-10 March 2005-BT: BT and Reuters sign major contract; BT also to acquire Radianz from Reuters(C)1994-2005 M2 COMMUNICATIONS LTD RDATE:10032005 BT and Reuters (RTR:LSE) today announced that BT will become Reuters supplier of network services in a contract under which Reuters is expected to spend in the region of $3 billion over eight and a half years.

BT will also acquire Radianz, the leading financial services extranet provider, from Reuters for a consideration of $175m for the business plus any cash remaining on the balance sheet, net of working capital adjustments, at the date of completion. Under the network services agreement, BT will provide and manage secure data networks for Reuters products and services world wide. This will see...