Add-on Acquisition • Information Technology

Thomson Reuters Acquires Elite

On April 3, 2003, Thomson Reuters acquired information technology company Elite for 122M USD

Acquisition Context

This is Thomson Reuters’ 3rd transaction in the Information Technology sector.
This is Thomson Reuters’ 9th largest (disclosed) transaction.
This is Thomson Reuters’ 7th transaction in the United States.
This is Thomson Reuters’ 2nd transaction in New York.

Investment Fate

Elite was divested to a consortium of buyers in 2023 for 500M USD.
Elite was sold to a consortium of financial buyers in 2025.

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M&A Deal Summary
Date	April 3, 2003
Target	Elite
Sector	Information Technology
Buyer(s)	Thomson Reuters
Deal Type	Add-on Acquisition
Deal Value	122M USD

Target Company

Elite

New York, New York, United States

Elite is a provider of integrated practice and financial management systems for professional service firms worldwide. It provides billing systems for the legal industry to deliver a variety of products and consulting services to other professional service markets, including accounting, engineering, marketing and management and IT consulting. Elite is based in New York, New York.

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Buyer Overview 1

Buyer

Thomson Reuters

Toronto, Ontario, Canada

Category	Company
Founded	1851
Sector	Information Services
Employees	25,600
Revenue	7.3B USD (2024)

DESCRIPTION

Thomson Reuters' office in Eagan, Minnesota.

Thomson Reuters is an information source for businesses and professionals, delivering information to decision-makers in the financial and risk, legal, tax and accounting, intellectual property, and science and media markets. Thomson Reuters was formed in 1851 and is headquartered in Toronto, Ontario.

Deal Context for Buyer	#
Overall	11 of 59
Sector: Information Technology	3 of 13
Type: Add-on Acquisition	9 of 51
State: New York	2 of 9
Country: United States	7 of 34
Year: 2003	1 of 2
Size (of disclosed)	9 of 13

PREVIOUS DEAL

DATE	TARGET	DEAL TYPE	VALUE
2002-09-13	MS Mexicana Mexico MS Mexicana, provider of services dedicated to the pharmaceutical industry in Mexico. MSM leads the Mexican pharmaceutical market with a 60% market share, serving over 7,000 users with its call reporting system SegMed. MSM is currently enhancing its medical databases for international purposes.	Sell	-

DATE

TARGET

DEAL TYPE

VALUE

2002-09-13

MS Mexicana

Mexico

MS Mexicana, provider of services dedicated to the pharmaceutical industry in Mexico. MSM leads the Mexican pharmaceutical market with a 60% market share, serving over 7,000 users with its call reporting system SegMed. MSM is currently enhancing its medical databases for international purposes.

Sell

FOLLOWING DEAL

DATE	TARGET	DEAL TYPE	VALUE
2003-08-25	Techstreet Ann Arbor, Michigan, United States Techstreet is a digital content delivery company that provides full-text industry standards and specifications from the world’s leading Standards Developing Organizations (SDOs) to engineers, researchers, and technical and information professionals worldwide.	Buy	-

DATE

TARGET

DEAL TYPE

VALUE

2003-08-25

Techstreet

Ann Arbor, Michigan, United States

Techstreet is a digital content delivery company that provides full-text industry standards and specifications from the world’s leading Standards Developing Organizations (SDOs) to engineers, researchers, and technical and information professionals worldwide.

Buy

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