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Reuters wins bid for some of Bridge assets

Published on .

New York--Reuters Group plc has won the auction for certain assets of its troubled rival, Bridge Information Systems Inc. Reuters, one of the leading global news and information services, will pay $275 million for Bridge Information Systems in North America, the EJV bond data and analytic business, the Bridge Trading Co. brokerage business and the eBridge Internet business. Privately held Bridge, weighed down by debt after an aggressive acquisition spree to compete with Reuters and Bloomberg L.P., recently filed for bankruptcy.
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